Former Islamic Minister Dr. Abdul Majeed Abdul Baaree has stated that selling the MVR 5,000 commemorative note, issued on the occasion of the Golden Jubilee celebrations of the nation’s independence, was usury. The commemorative note issued by Maldives Monetary Authority is being sold at MVR 7,500.
He added that the sale at inflated prices was usury, which is banned in Islam. MMA has stated that the buyers of the commemorative edition can get MVR 5,000 as cash back in the event they wished to resell the edition. The notes have gone on public sale, in MMA and in duty free shops in Ibrahim Nasir International Airport.
The note was released in the official flag hoisting ceremony held to kick start the Independence Day celebrations. An MVR 5,000 note was presented to President Abdullah Yameen Abdul Qayyoom, that night.
Purchase of inflated commemorative notes is usury: Dr. Abdul Majeed
