Monday, May 23, 2022
DhiDaily - English Edition
  • Home
  • Local
  • Reports
  • World
  • Business
  • Sports
  • Entertainment
  • Tech
  • ދިވެހި
No Result
View All Result
  • Home
  • Local
  • Reports
  • World
  • Business
  • Sports
  • Entertainment
  • Tech
  • ދިވެހި
No Result
View All Result
DhiDaily - English Edition
No Result
View All Result

Government Schools to be Used as Sukuk Issuance Assets

Adam Ahid by Adam Ahid
August 16, 2021
0
Government Schools to be Used as Sukuk Issuance Assets
0
SHARES
15
VIEWS

Government schools in Male’ City will be used as assets in the Sukuk issuance program to earn revenue for the state, the President’s Office announced Monday.

While disputing reports that government schools are being utilized as security to sell bonds, President’s Office Spokesperson Mabrook Azeez indicated that select Male’ schools, along with other government assets, will be used to sell Sukuk.

He stressed that utilizing it as a mortgage to sell bonds is not the same as using it as an asset to issue Sukuk.

Iskandhar School, Thaajuddeen School, Giyaasuddin School, Imaadhuddin School, Kalaafaanu School, Rehendhi School, buildings used for EPS and MES, and CHS are among the schools held as assets to sell Sukuk for the government.

Finance Minister Ibrahim Ameer earlier stated that the government intends to sell another sukuk before the end of the year to help manage the state’s expenses.

He informed a local news outlet that, as part of the current administration’s program to sell USD 1 billion in sukuk, the government will be in a position to issue sukuk next year as well.

The Maldives government earned a total of USD 300 million in sukuk sales in April with Dharumavantha Hospital as an asset. The sukuk, worth around USD 387 million with interest, must be repaid after five years. A total of USD 191 million from the sukuk sales was spent on repaying the state’s debts.

The Dharumavantha Hospital property was used as a mortgaging technique for the issuing of government sukuk, which is not done in the normal approach. If the loan is unable to be returned, the property will not be sold to acquire funds, as is common in such mortgaging situations.

Tags: President’s OfficeSukuk

Related Posts

Two Dead in Speedboat Accident at GA. Villingili
Local

Two Dead in Speedboat Accident at GA. Villingili

May 22, 2022
Slight Chance of Monkeypox Spread in Maldives 
Local

Slight Chance of Monkeypox Spread in Maldives 

May 22, 2022
MTCC to Bring Two New Dredgers
Business

MTCC to Bring Two New Dredgers

May 22, 2022

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

  • Trending
  • Comments
  • Latest
The Power of Women’s Leadership, A Powerful Economy

The Power of Women’s Leadership, A Powerful Economy

March 14, 2021
Fire Breaks Out in Vakkaru Resort

Fire Breaks Out in Vakkaru Resort

December 14, 2021
The Defining Challenge & Scandal of Solih's Gov't

COVID-19 & Ventilators: The Defining Challenge & Scandal of Solih’s Gov’t

March 28, 2021
Investigative Journalism is Dead Upon Arrival

Investigative Journalism is Dead Upon Arrival

April 7, 2021
Speaker Nasheed Undergoes Multiple Successful Surgeries

“I Will Not Compete Against President Solih” – Nasheed

1
Cat Strangling Video Receives Backlash

Cat Strangling Video Receives Backlash

1
UK Prime Minister Boris Johnson Reveals His Cautious Lockdown Easing Plan

UK Prime Minister Boris Johnson Reveals His Cautious Lockdown Easing Plan

0
Nasheed Expresses His Concerns and Seeks To Find Answers Regarding The One Room Apartment Project

Nasheed Expresses His Concerns and Seeks To Find Answers Regarding The One Room Apartment Project

0
Two Dead in Speedboat Accident at GA. Villingili

Two Dead in Speedboat Accident at GA. Villingili

May 22, 2022
Slight Chance of Monkeypox Spread in Maldives 

Slight Chance of Monkeypox Spread in Maldives 

May 22, 2022
MTCC to Bring Two New Dredgers

MTCC to Bring Two New Dredgers

May 22, 2022
Amnesty International Raises Concern over Restricting Freedom of Expression in Maldives 

Amnesty International Raises Concern over Restricting Freedom of Expression in Maldives 

May 21, 2022

Recent News

Two Dead in Speedboat Accident at GA. Villingili

Two Dead in Speedboat Accident at GA. Villingili

May 22, 2022
Slight Chance of Monkeypox Spread in Maldives 

Slight Chance of Monkeypox Spread in Maldives 

May 22, 2022
MTCC to Bring Two New Dredgers

MTCC to Bring Two New Dredgers

May 22, 2022
Amnesty International Raises Concern over Restricting Freedom of Expression in Maldives 

Amnesty International Raises Concern over Restricting Freedom of Expression in Maldives 

May 21, 2022
DhiDaily - English Edition

© 2021 Dhidaily

Navigate Site

  • About
  • Advertise
  • Privacy & Policy
  • Contact

Follow Us

No Result
View All Result
  • Home
  • Local
  • Reports
  • World
  • Business
  • Sports
  • Entertainment
  • Tech
  • ދިވެހި

© 2021 Dhidaily