A financing facility named “Thijaaraa Rashu Fathuru” has been introduced to assist small and medium-sized enterprises operating in the tourism sector.
Opportunity to apply for the loan scheme was opened today, inviting applications through its SME portal.
According to SDFC, the main objective of this facility, introduced under ‘SDFC Tijaaraa’, is to provide financial assistance to micro, small, and medium-sized businesses operating in the local tourism industry, in accordance with Islamic Sharia principles.
Through this facility, both new startups and existing businesses can secure the funds they need to expand and elevate their contributions to the economy. Accoding to SDFC , projects include the construction and renovation of guesthouses, the development of tourist facilities such as restaurants, cafés, and water sports centres, as well as the use of technology to expand tourism businesses.
The financing rate for ‘Tijaaraa Rashu Fathuru’ is 9.5 percent per annum. While a grace period of up to 18 months is available, the facility can be repaid over a maximum period of 10 years.
For Guesthouse Construction – New & Existing Businesses
• Minimum amount: MVR 200,000
• Maximum amount: MVR 5,000,000
For Other Tourism Industry Business Activities (Excluding Guest House Construction – Existing Businesses
• Maximum amount: MVR 1,500,000
• Eligible activities include dive centers, water sports centers, and similar tourism ventures
