SME Digital has introduced two Shari’ah-compliant financing products intended to reinforce the Maldives’ local tourism sector. The new facilities, 'Guesthouse Financing' and 'Guestroom Financing', are designed to reduce financial barriers for entrepreneurs and established operators, supporting the start-up, expansion, and modernisation of island-based ventures.
Chief Executive Officer Badhurudheen Hassan said the initiatives are structured to advance sustainable economic growth across the atolls. By providing capital for construction on council-leased land, SME Digital aims to broaden participation in the tourism industry, strengthen island economies, and diversify local revenue streams.
The Guesthouse Financing facility applies to operations with at least six rooms. Loans are capped at USD 648,508.43, with a required 20 percent equity contribution. Borrowers are offered a 15-year repayment period, including an 18-month grace period, to facilitate infrastructure investment and technological upgrades.
The Guestroom Financing option is directed at smaller enterprises, such as homestays with up to five rooms. Lending under this scheme is capped at USD 97,276.26, with a 10-year repayment term and a 12-month grace period. Eligibility is determined by the applicant’s repayment capacity, assessed through salary, rental income, or business revenue.