Housing Development Finance Corporation (HDFC) has opened the sale of Sukuks for the fourth time.
Moreover, as per HDFC the Sukuk transactions are aimed towards individuals acquiring finances for housing or repair of buildings, adding the sale window will remain effective until 30th September.
Meanwhile, the corporation confirmed it will be selling Sukuks at a value of MVR1,000 per Sukuk.
Furthermore, HDFC revealed that 65% of the profits from the Sukuk investment will be credited to the purchaser while the corporation will retain 35% of the remaining profits. HDFC will credit the profit from Sukuks from the date of ‘allotment’ between every six months for a period of 10 years.
HDFC will be crediting the profit to the purchaser’s account via “Maldives Securities Depository.”
The Sukuk purchasing window opened earlier on 12th September, Sunday while HDFC expects to raise MVR200 million through the transactions, which translate to a total of 200,000 Sukuks.
Moreover, HDFC attests that their Sukuks have been listed under Maldives Stock Exchange.