Amana Takaful Insurance has applied to become the fifth company to be listed on the Maldives Stock Exchange (MSE).
The Sri Lankan company was established in 1998 and pioneered the process of refunding the surplus at the end of each policy term. It has been active in the Maldives since 2003, providing insurance to government and non-government organisations.
Amana Takaful will be both the first Sharia-compliant company and the first foreign-owned company to be listed on the MSE, the exchange noted.
Other companies on the stock exchange include the Maldives Transport and Contracting Company Plc (MTCC), Bank of Maldives Plc (BML), State Trading Organization Plc (STO), and the Maldives Tourism Development Corporation (MTDC)