MALE’, Maldives – In a move to modernize the fishing industry and improve the livelihoods of the fishermen, the government has rolled out a new Islamic financing program to install Refrigerated Sea Water (RSW) systems on fishing vessels. President Dr. Mohamed Muizzu presided over a ceremony today to present award letters to the recipients of the Murabaha RSW Financing Facility. This initiative, a collaboration between the Ministry of Finance, Ministry of Fisheries and Ocean Resources, Islamic Development Bank (ISDB), and the SME Development Finance Corporation (SDFC), offers Murabaha financing contracts to purchase the RSW systems, as well as complementary solar … Continue reading Fishing Industry Gets a Boost as Government Provides Islamic Financing for Refrigerated Sea Water Systems