IUM to Raise Funds for ‘Sanaabil’ Project Through Sukuk Issue

The Islamic University of Maldives has launched a sukuk issuance to fund the construction of an eight-floor 'Sanaabil' building in Hulhumalé, releasing 60 sukuks of MVR 1 million face value each, with subscriptions opening via MCE's Viyana Portal from 23 June. Permits were obtained from CMDA and the Maldives Stock Exchange, with Watercress Capital as lead manager.

First reported 5 Jun 2024, 01:11

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Sources 1carried it 1 of 19 news outlets we monitor

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Maldives RepublicNews outlet

IUM to Raise Funds for ‘Sanaabil’ Project Through Sukuk Issue

60 sukuks Sukuk released under the Sanaabil project

5 Jun, 01:11 First Open at outlet

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Figures in these reports

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60 sukuks Sukuk released under the Sanaabil project Maldives Republic
Under the Sanaabil project, IUM has released 60 sukuks, each with a face value of MVR 1 million.
Word for word from the report in Maldives Republic. Open the report
MVR 1 million Face value per sukuk Maldives Republic
Under the Sanaabil project, IUM has released 60 sukuks, each with a face value of MVR 1 million.
Word for word from the report in Maldives Republic. Open the report

Other events named

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A ceremony was held at the university to mark the official launch of the sukuk issuance, with the Speaker of Parliament attending as guest of honour. the university Maldives Republic
A ceremony was held at the university to mark the official launch of the sukuk issuance, with the Speaker of Parliament, Abdul Raheem Abdulla, attending as the guest of honour.
Word for word from the report in Maldives Republic. Open the report

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Education Finance & banking

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Abdul Raheem Abdulla Speaker of Parliament Azmeen Rasheed IUM's Shariah Advisor Capital Market Development Authority Islamic University of Maldives Maldives Stock Exchange Watercress Capital Pvt. Ltd.