Loans issued to individuals have increased by 7% in the first quarter of this year.
About 1.5 billion US dollars have been issued as loans to individuals in the first quarter, according to the Quarterly Economic Review published by Maldives Monetary Authority (MMA). In this regard, 37% of total loans were issued for investment in the tourism sector, which is an increase of 7%, year on year. 22% of the loans were issued for investment in the construction sector. Most of the loans were issued for home construction.
The number of personal loans issued by banks had also increased to 17% during the first quarter.
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