Maldives’ Biggest Bank Seeks Dollar Sukuk as War Hits Tourism

The Bank of Maldives' move to issue dollar sukuk reflects a strategic response to external economic pressures, particularly the impact of geopolitical tensions on tourism. As the Maldives heavily relies on tourism revenue, diversifying funding sources through international markets could provide a buffer against potential downturns. This approach not only signals confidence in the Maldives' economic resilience but also highlights the increasing importance of Islamic finance in global capital markets.