President Dr. Mohamed Muizzu has announced his administration’s vision to transform the Maldives into a leading financial centre for Islamic Finance, underpinned by digital economic transformation.
He announced the official launch of the Maldives Islamic Social Finance Initiative held on Wednesday morning.
Speaking at the ceremony, President Muizzu described the initiative as a pivotal step aligned with the upcoming National Financial Inclusion Strategy. He said the Maldives’ development efforts must reflect its core values of compassion, justice, and social equity — principles embedded in Islamic social finance.
The President underscored that the initiative is more than a programme; it is a call for collective action. He expressed confidence that it would foster meaningful partnerships between the financial sector and civil society to address social needs.
He also revealed that a National Master Plan and Roadmap for Islamic Economics and Finance is currently being developed in collaboration with the Islamic Development Bank. The plan aims to build a comprehensive ecosystem for Islamic Finance and digital innovation in the Maldives. President Muizzu added that legal reforms will be undertaken to support this long-term vision.
At the event, the President also inaugurated the Maldives Monetary Authority’s Islamic Social Finance research report and received a commitment letter from the Bank of Maldives and Maldives Islamic Bank in support of the new initiative.
He announced the official launch of the Maldives Islamic Social Finance Initiative held on Wednesday morning.
Speaking at the ceremony, President Muizzu described the initiative as a pivotal step aligned with the upcoming National Financial Inclusion Strategy. He said the Maldives’ development efforts must reflect its core values of compassion, justice, and social equity — principles embedded in Islamic social finance.
The President underscored that the initiative is more than a programme; it is a call for collective action. He expressed confidence that it would foster meaningful partnerships between the financial sector and civil society to address social needs.
He also revealed that a National Master Plan and Roadmap for Islamic Economics and Finance is currently being developed in collaboration with the Islamic Development Bank. The plan aims to build a comprehensive ecosystem for Islamic Finance and digital innovation in the Maldives. President Muizzu added that legal reforms will be undertaken to support this long-term vision.
At the event, the President also inaugurated the Maldives Monetary Authority’s Islamic Social Finance research report and received a commitment letter from the Bank of Maldives and Maldives Islamic Bank in support of the new initiative.
