Managing Director of Maldives Islamic Bank (MIB) Mufaddal Idris Khumri has revealed the bank's plans to offer financial advisory programmes tailored for guest houses.
Speaking to PSM News at the launch of the "Maldives Guest House Symposium 2024," Mufaddal highlighted that MIB is already providing various financing options for guest houses. To further support this sector, he said that dedicated teams will be appointed to assist guest houses in managing their transactions with the bank. He emphasised that future programmes will focus on providing financial guidance, including cost-reduction strategies. He also noted that the symposium presents an opportunity for industry stakeholders to exchange ideas and discuss the guest house sector.
Meanwhile, Chief Business Officer of MIB Hammaadh Rasheed Hussain said that the goal of the symposium is to foster connections between investors and guest house operators. He said that the event is aimed at identifying challenges within the sector and facilitating discussions to find solutions. He also said that the attendees include representatives from the Guest House Association, guest house operators, liveaboards, suppliers, and international investors.
The participants of the symposium also shared their insights with PSM News, expressing that the event offers a valuable platform to discuss areas for improvement in the guest house industry and enhance service quality. The participants also emphasised the importance of collaboration among local stakeholders for regional development.
The Maldives Guest House Symposium 2024 is the first of its kind and will become an annual event. This year's symposium will host over 150 attendees, including guest house owners, employees, investors, and travel agents.