Home Minister Azleen Ahmed have said that Maldives should be made an usury free society.
Azleen made this statement while speaking at the opening ceremony of a workshop organized by Islamic Training Institute of IDB and South Asian Institute of Islamic Finance of Maldives.
Azleen said that Islamic finance is the fastest growing type of finance in the world and even non-muslim countries are working hard to promote principles of Islamic financing. He said that this shows the huge support for this system.
Azleen said that globally assets of Islamic finance are worth more than 2 trillion dollars and these assets are increasing at a fast rate. He said that in Maldives also Islamic financing is developing fast and the president wishes Maldives to be at the global forefront of Islamic financing.
Azleen said that said that Islamic financing is the only system where the borrowers do not have to carry 100 percent of the burden and that is why there is a huge support for Islamic financing. Azleen also noted that Maldives is among the top 15 countries where Islamic finance is developing the fastest.
The workshop is being held at the auditorium of MNU. Experts from IDB are taking part in the workshop. The main topic of the workshop will be the work done to promote Islamic financing in Maldives and the challenges faced to promote it. The theme of the workshop is Islamic Liquidity Management.
Maldives is also the first country in the region where the central bank issued an Islamic treasury bill.
Maldives should be made an usury free society : Home Minister
