Bank of Maldives Plc has begun meeting global investors to explore issuing its first dollar sukuk, a move that would mark the island nation's biggest lender venturing into international capital markets. The Islamic-compliant bond sale aims to raise fresh funding as the Maldives seeks to stabilize its economy.

The timing reflects pressure on the Maldives' tourism sector, which has suffered from reduced Middle East travel due to ongoing regional conflict. Tourism accounts for roughly a third of the country's GDP and represents its primary source of foreign currency earnings and employment.

A successful sukuk issuance could provide the government and private sector with cheaper access to global capital markets. For international investors, the offering represents an opportunity to gain exposure to a small but tourism-dependent economy seeking to diversify funding sources beyond traditional bilateral lending.

The transaction would test investor appetite for emerging market debt from a nation where political stability has fluctuated in recent years.