Regulatory Alerts2025-11-04
Regulation on Inclusive National Affordable Housing Scheme
The Maldives Monetary Authority issued this regulation to establish the Inclusive National Affordable Housing Scheme and its associated Fund, requiring all local banks to contribute 10-15% of their loan portfolios. The scheme provides two types of Sharia-compliant financing facilities with tenures of at least 25 years, targeting first-time home buyers in the Greater Male' region with profit rates of 5% for lease-to-own and 6% for end-user financing. An appointed institution manages the fund and disburses loans, while the Authority retains oversight powers including the imposition of fines for non-compliance and the determination of specific eligibility criteria and project allocations.
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