Ministry of Finance has stated the government has no plans to mortgage any school in the Maldives. Some media outlets have claimed the government plans to mortgage schools in Male' City for financial benefits.
The media reports claimed the government is planning to mortgage Iskrandhar School, Thaajuddeen School, Ghiyasuddin International School, Imaduddin School, Kalaafaanu School, Rehendhi School, and Centre for Higher Secondary Education (CHSE). The reports also claimed the government also plans to mortgage the building which previously housed English Preparatory and Secondary School (EPS) and Malé English School (MES). However, the finance ministry stated the government has never mortgaged a school to obtain loans and that the administration is opposed to the idea of mortgaging any state asset to obtain loans.
Minister of Finance Ibrahim Ameer previously stated Islamic bonds will be sold later this year in order to manage the government expenditures. As such, the government has initiated a programme to sell one million US dollars in Islamic bonds.
The agreements made to sell Islamic bonds state the government is not liable to sell state property upon bond default.