Maldives’ Biggest Bank Seeks Dollar Sukuk as War Hits Tourism

Bank of Maldives Plc is holding global investor meetings to gauge appetite for what would be its first foray into international capital markets, a transaction that may help buttress the island nation’s key tourism industry against fallout from the Middle East.

The lender, which accounts for roughly half the banking sector’s assets and deposits, is meeting fund managers across Asia, the Middle East and Europe to gather feedback for a US dollar sukuk, Abdulla Hassan, director for financial strategy and planning at Bank of Maldives said in an interview with Bloomberg News.