The Maldives: Laying the foundations to become South Asia’s Islamic finance hub

The Maldives wants to rival regional heavyweights Pakistan and Bangladesh to become South Asia’s hub for Islamic finance; but does the young Shariah finance contender has what it takes? Dr Aishath Muneeza, the chairperson of the Maldives Center for Islamic Finance, tells Vineeta Tan yes, the country does – and it is not all talk as the tropical nation is building a comprehensive Islamic finance ecosystem including a fully-fledged Shariah compliant sovereign wealth fund, a global sovereign Sukuk offering and new regulations.