The value of Maldivian sukuk has seen a notable rise in recent months, reflecting growing investor confidence in the country's economic outlook, according to the Ministry of Finance.

As of Monday, the sukuk value had increased to MVR 87.44.

In early April, the bond was trading at USD 64.72 on the global market.

The Finance Ministry attributed this appreciation to the government’s prudent fiscal policies and ongoing efforts to strengthen economic fundamentals.

A key factor boosting investor sentiment was the repayment of a USD 100 million loan along with $26 million in interest—originally secured in 2022 from Cargill Financial Services International during the previous MDP administration.

The loan, taken at a 7.15% interest rate for a three-year term, was repaid in March this year.

In addition to settling the Cargill debt, the government also made a scheduled sukuk coupon payment of USD 25 million in April.

Under the sukuk terms, two such payments are made annually, with the next payment due in October.

The Finance Ministry noted that these repayments, along with rising sukuk values, highlight the effectiveness of the government’s engagement with international financial institutions and reaffirm investor trust in the Maldives’ economic trajectory.