Maldives Finance Leasing Company Pvt Ltd

Establishment of a finance leasing company was a project initiated by the government of Maldives to strengthen and introduce more sophistication into the financial sector of the Maldives. The International Finance Corporation (IFC), an affiliate of the World Bank played the role of the lead partner in this project, and Maldives Finance Leasing Company Pvt Ltd. (MFLC) became operational in May 2002, with the participation of National Development Bank of Sri Lanka (NDB), Maldives Transport and Contracting Company Plc (MTCC), Bank of Maldives Plc. (BML) and three domestic private sector companies.

The aim of MFLC is to address the country’s demand for long-term equipment financing in various sectors of the economy. The company is expected to contribute to industrial development and employment generation of the country and also operate as a profitable business for the shareholders of the company. The majority shareholders of the company in the formative years will be IFC and the National Development Bank (NDB) of Sri Lanka, as the technical partner, with options for divestiture in the domestic market, at a later stage.

In terms of shareholding, the IFC owns 25 percent of MFLC; the NDB holds 35 percent, MTCC 15 percent, BML 10 percent and the domestic private sector 15 percent.




Maldives Finance Leasing Company Pvt Ltd
#04-01 Aage
12 Boduthakurufaanu Magu
Male' 20094
Rep. of Maldives
Telephone: (960) 3315605
Fax: (960) 3315608
Email: info@mflc.org.mv
Website: www.mflc.org.mv