Resorts operating in the Maldives need to follow halal principles to gain Islamic finance.
Speaking to Miadhu, Finance Minister Abdullah Jihad said that interest based banking was still the fastest developing form of finance, as most tourist resorts operated on that basis. Minister Jihad noted that resorts running on conventional tourism faced immense difficulties on obtaining finance from Islamic finance banks.
“Finding Islamic finance to develop resorts in the Maldives is hard. However, it can be facilitated with work,” he said.
Minister Jihad said that Islamic finance can be arranged for the construction of resorts.
Obtaining Islamic finance for alcohol and pork; if rooms are constructed with Islamic finance then the rooms cannot have minibars.
Arab tour operators had highlighted the biggest issue barring Muslim tourists from coming to the Maldives was the lack of halal options for the tourists. Halal based resorts were the fastest developing resorts in Dubai, with the resorts attracting both Muslims and non-Muslims.
Resorts need to follow halal principles to gain Islamic finance
