Founded in 2003, Eyecare embarked on its journey with a modest team of optometrists and a single doctor. Today, it stands as one of the most trusted healthcare providers in the Maldives, with over seven optical showrooms and clinics strategically located across the nation. Eyecare Maldives has earned its reputation through unwavering dedication to providing comprehensive eye care solutions. From optical retail services offering a wide range of affordable and branded frames and sunglasses to diagnostic, clinical, and specialist ophthalmic surgeries, Eyecare ensures that patients receive top-notch care under one roof.

Over the years, Eyecare has diversified its portfolio into various sectors, including real estate developments, leasing of safari vessels for cruises and diving, and most notably, the recent opening of Fiyavalhu Maldives – the first resort on a local island. This diversification reflects Eyecare's commitment to innovation and growth beyond the healthcare sector.

Eyecare's Sukuk offering, valued at MVR 30 million, is structured as a Parallel Istisna’ Sukuk in accordance with Islamic Shari’ah Principles. This Sukuk issuance is earmarked to fund the development of an Eye Centre in Hulhumale', along with parking facilities. Investors can anticipate a profit distribution at an indicative rate of 8% per annum, with a tenure of 5 years. The profit distribution is set to take place bi-annually.

A Sukuk is an investment product designed and structured under Islamic principles which offers profit to investors. Each Sukuk is structured with an underlying asset that generates income which is then distributed to the investors as profit.

Eyecare Maldives' upcoming Sukuk offering presents an opportunity for investors to participate in the company's continued growth and success story. Structured under Islamic principles and tailored to meet the needs of informed investors, this Sukuk issuance represents a strategic move towards expanding Eyecare's presence and impact in the capital market.

First National Finance Corporation serves as the Lead Arranger for this issuance. In this capacity, First National undertook the structuring, due diligence, prospectus development, and all other necessary tasks pertaining to the listing of the Sukuk.