The Ministry of Agriculture and Animal Welfare and the SME Development Finance Corporation (SDFC) have discussed the establishment of a financing facility in line with Islamic Sharia principles to support the modernisation of the agricultural sector.
The discussions took place during a meeting attended by Minister of State for Agriculture and Animal Welfare Mariyam Vishama Ahmed, along with senior officials from the ministry. The ministry said that the discussions focused on key strategies for advancing the agricultural sector, including the proposed Sharia-compliant financing facility aimed at providing modern resources to support agricultural development. The meeting was also considered a significant milestone in efforts to further advance the sector.
Speaking at the meeting, State Minister Vishama highlighted that the initiative would help Maldivian farmers access modern technology and equipment, which is expected to boost agricultural productivity and enhance food security. A senior representative from SDFC also expressed the corporation’s commitment to supporting the project's success. Both parties agreed to continue further discussions to advance the project in the future.