Maldives Hajj Corporation has decided to invest an additional USD 1.9 million in Housing Development Finance Corporation (HDFC). The agreement between Hajj Corporation and HDFC was signed by Managing Director of Hajj Corporation Idrees Ismail and Assistant General Manager of HDFC.
The investment will be made through products of HDFC which permits Islamic Shari'ah, spread across a period of 5 years, according to Hajj Corporation. The Hajj Corporation has been investing in HDFC since 2015, aimed to decrease the amount paid on Hajj trips by individuals through such investments.
Maldives Hajj Corporation was formed under a Presidential decree in 2013 to pave the way for all citizens of Maldives to perform their Hajj with an affordable cost while safeguarding the finances of Maldivians who are willing to perform Hajj and Umrah.