Alia Investments introduce Shar'ia compliant finance scheme
The scheme was introduced on Monday
Alia Investments' office in capital city Malé
Alia Investments Pvt Ltd, one of the country’s largest trading organizations has introduced a Shar’ia compliant finance scheme.
At the event to launch the scheme on Monday, held inside the Champa Central Hotel, Aishath Muneeza, the chair Alia Investments’ Islamic finance committee said that the company’s previous scheme had policies that are strictly against Shar’ia.
Policies that impose a fine when payments are delayed and stalling of the customer’s right to ownership of goods in the process of being paid for are among this, Muneeza said.
Alia is the licensed distributor for Yamaha, and motorcycles, outboards, and water vehicles will now be available under this scheme. Alia is also the distributor of Kohler bathroom and kitchen products, further importing a variety of timber products, steel and hardware materials.
