The Maldives signed with Dubai firm AlHuda Centre of Islamic Banking & Economics (CIBE) on Sunday to enhance the works of Maldives Centre for Islamic Finance (MCIF).
The agreement was signed by MCIF’s managing director Ibrahim Didi and CIBE’s CEO Muhammad Zubair Mughal.
The two-year contract is for improvement of MCIF’s financial services and training of its employees.
Speaking at the ceremony, MCIF’s Didi stated that the company strives to advance further in its field and collaborate with more partners in the future.
Noting the insufficient amount of facilities in the Maldives for adequate Islamic financing, he declared that training more people under its agreement with CIBE will benefit the Islamic finance sector as well as reduce expenses.
He added that the number of trained hands in the progressing field of Islamic insurance in the Maldives is greatly lacking.
MCIF was founded by President Abdulla Yameen Abdul Gayoom last March in an effort to develop Islamic finance in the Maldives.
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