EyeCare has successfully distributed MVR 3.4 million in its second Sukuk profit payout, reinforcing its commitment to investors and highlighting the company’s strong financial performance. This distribution follows the issuance of a MVR 30 million parallel istisna Sukuk, structured in accordance with Islamic Shari’ah principles. The proceeds from this Sukuk were used to finance the construction of the Eye Care Centre in Hulhumalé, a project that is set to establish the first specialized eye hospital in the Maldives.
The Sukuk was issued with an annual return rate of 8%, over a five-year term, providing investors with reliable returns. This marks another significant milestone for EyeCare, as it continues to deliver on its promise to meet the financial expectations of its stakeholders. The latest payout reflects the company’s ongoing financial stability and its ability to meet its obligations in a timely and efficient manner, a testament to its sound operational management.
The lead arranger for the Sukuk issuance, First National, has also played a crucial role in this initiative, further contributing to the development of the Maldives’ capital markets. Through strategic financing solutions, First National has helped local businesses access innovative funding avenues, supporting the growth and sustainability of key infrastructure projects like the Eye Care Centre. The successful execution of this Sukuk distribution not only strengthens EyeCare’s position in the market but also underscores the potential for further investment opportunities within the Maldives’ growing financial sector.
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