Government has leased an island to the Maldives Center for Islamic Finance (MCIF) to develop a Halal resort in the archipelago.
Vice President Abdulla Jihad made the announcement while speaking during the Maldives Islamic Banking and Finance Industry Conference which started on Thursday in Bandos Resort.
The Vice President did not reveal which island was given to be developed as a Halal resort.
The VP however, noted that the purpose of MCIF was to achieve the important objective of developing Islamic finance and the halal industry in the country in-order to establish Maldives as a hub for Islamic finance in the South East.
MCIF is a 100% government owned company. This company looks on expanding the Islamic economy of Maldives and seeks funding to develop the country through Halal products.