“The phenomenal growth of Islamic insurance and Islamic banking in the Maldives in the last few years suggest that there is still significant market to capture,” said Azeema Adam at the opening ceremony of an Islamic banking and finance conference.
Indian media has reported sources within the infrastructure company expressing surprise at the agreement signed this week as its terminated deal to develop Ibrahim Nasir International Airport remains in arbitration.
Eight MoUs – including the promotion of the Malé-Hulhulé bridge construction – and a preliminary contract for the development of Ibrahim Nasir International Airport were signed as Xi Jinpeng became the first Chinese President to visit the Maldives.
“The positive developments in the TATA Housing project would definitely encourage more such investments from Indian businesses into Maldives,” read statement praising the resumption of the stalled project.
Minister of Housing and Infrastructure Dr Mohamed Muiz has expressed hope that the new contract with Indian infrastructure giant TATA Housing for the construction of two apartment complexes – initially agreed in 2010 – can be signed soon.
Speaking to Haveeru, the former health minister alleged a campaign of death threats and negative media coverage designed to engineer her removal in order to facilitate corruption within the sector.
In an opinion piece published on newspaper Haveeru last week, Inaz argued that SEZs could worsen income inequality, deprive local councils of sources of revenue, and lead to a large influx of foreign labour.
Following criticism from the opposition over the appointment of ministers to the board – noting that the constitution prohibits ministers holding “any other public office or office of profit” – the President’s Office spokesperson has insisted that the board was instituted legally.
Speaking at a forum on state broadcaster Television Maldives last night, Dr Azeema said one of the most important prerequisites for successful enactment of the SEZ Act was consensus “on a political and national level.”