Islamic Facilities



“Amna” is an Arabic word which refers to “security”. Amna is stated in al Quran to connote peaceful, protected, and secure.

HDFC Amna is neither a separate company detached from HDFC nor a subsidiary of HDFC. HDFC Amna is simply and solely an Islamic window of HDFC offering Islamic home financing facilities to the customers under the existing license of HDFC to offer home financing products to Maldivians in an affordable manner.

This Islamic window can be defined as a department of a conventional financial institution offering Islamic financial services. Hence, HDFC Amna will operate as a department of HDFC. HDFC Amna will observe the following standards to achieve Shari’ah compliance:

  1. Complete Segregation of Funds
  2. Shari’ah Supervisory Board (Shari’ah Committee)
  3. Products fully based on Islamic Concepts including the contracts
  4. Management in accordance with Islamic principles

The long-term vision of HDFC is to convert HDFC Amna to a full-fledged company offering Islamic financing facilities.


The objectives of offering Islamic home financing facilities by setting up HDFC Amna is to confer choice to our customers to choose between Islamic and conventional products and allow them to build their homes on a morally financed manner. It would also allow HDFC to create portfolio diversification in a cost-effective manner.


To be a leader in providing housing finance with Islamic values


  • To build a strong and dynamic institution to make a viable alternative to conventional system
  • To provide quality products and services to the clients with sincerity, honesty and care
  • To maximize clients’ and shareholders’ value with stable growth
  • To apply Shariah principles and maintain the highest level of ethical standard and transparency in all business transactions
  • To provide a congenial work atmosphere to create and attract competent work force; and
  • To be socially responsible and make effective contribution to national development.



Dr. Ibrahim Zakariyya Moosa



Dr. Rusni Hassan


94228shkh ali zahir

Dr. Ali Zahir bin Saeed Qasim



HDFC-Amna was founded in 2012 to provide Islamic home financing options. At HDFC, customers have the opportunity to select between Islamic and conventional financing products.

Amna Funds are segregated to ensure there is no commingling with sharia noncompliant

  • An Independent Shari’ah Advisory Committee
  • Products are ultimately rooted in Islamic principles, including the terms in the underlying agreements.
  • Ensure that management of funds and related services is offered based on Islamic principles.


Musharaka Muthanaqisa Contract

Purchase of Land and Construction

This facility is a Sharia compliant financing facility to purchase land and construct a House to be occupied by owners/ co-owners/tenants. Under this facility the project will proceed jointly with the client and HDFC. Client will provide land and HDFC will provide funding under Islamic financing model of profit-share where finance will be directly provided to the client / contractors.

1. Equity: 15% - 30%
2. Tenure: 25 years
3. Grace Period: 12 to 24 months
4. Profit rate: 11% – 12.25%

Purchase of Housing Unit

In housing units, the disbursement will be directly made to developer / contractor after receiving no objection from the client.

1. Equity: 20%
2. Tenure: 25 years
3. Grace Period: 12 to 24 months
4. Profit rate: 10% - 11%

Murabaha Contract

Home Rennovation

This facility is a Sharia Compliant financing facility whereby HDFC and the customer enter into a contract for the sale of goods required to renovate the housing. These goods are agreed on the cost price plus an agreed amount of profit. The contract involves the purchase of goods identified by the client and then sells them to the customer at an agreed mark up in which the repayment is in installments and a limit of MVR 1,000,000.

1. Equity: Not required
2. Tenure: 10 years
3. Grace Period: Nil
4. Profit rate: 11%
5. Financing up to MVR 1,000,000.00


All co-owners to the property offered as security must be co-applicant or a legal consent is required.

Must have a minimum of one co-applicant who has a legal connection to the property, by inheritance/marriage (40% of the pooled income considered for EMI), or with an independent guarantor acceptable to HDFC.

Maximum age of an applicant for the income to be considered for repayment capacity is 65.

Owner/co-owner must be a major if not apply through a court assigned legal guardian.

Property offered for Mortgage:

Primary mortgage, on the property developed / purchased / renovated.

100% of the value of building must be insured by a reputed agency acceptable to HDFC.

Mortgage property value should have minimum 125% of the approved loan amount.


3000 116

3000 156

3000 157