The Ministry of Economic Development and Trade of the Maldives has signed a Memorandum of Understanding (MoU) with the Abu Dhabi Global Market (ADGM) Registration Authority to enhance registry operations and support the development of the Maldives International Financial Centre.
This collaboration is crucial to establishing the Maldives as a regional financial hub, aligned with President Dr. Mohamed Muizzu’s vision for economic diversification and attracting global investment.
Economic Minister Mohamed Saeed, representing the Maldivian government, signed the agreement with ADGM's CEO, Hamad Sayah Al Mazrouei, at a special ceremony. Minister Saeed underscored the significance of this partnership, highlighting the strategic advantages of ADGM’s regulatory and operational expertise.
“This collaboration with ADGM represents a crucial step toward establishing Maldives as a regional financial hub. By drawing on ADGM's regulatory and operational expertise, we are creating a foundation for an international financial center that aligns with President Dr. Mohamed Muizzu’s economic diversification vision and will attract global investment," Minister Saeed stated.
The MoU establishes five primary areas of cooperation, including:
1. Developing legislative and procedural frameworks for registry operations.
2. Implementing capacity-building programs, including staff training and exchanges.
3. Enhancing operational standards through shared best practices.
4. Exchanging knowledge of international standards.
5. Providing technical support to improve registry efficiency.
This partnership is set to foster knowledge-sharing, facilitate joint training programs, and provide operational support, further strengthening the economic ties between the Maldives and Abu Dhabi. The collaboration aims to accelerate the development of the Maldives’ financial sector, positioning it as a competitive player in the region’s financial landscape.
The agreement marks a significant milestone in the Maldives' journey to becoming a prominent international financial hub and opens new economic growth and investment avenues.
This collaboration is crucial to establishing the Maldives as a regional financial hub, aligned with President Dr. Mohamed Muizzu’s vision for economic diversification and attracting global investment.
Economic Minister Mohamed Saeed, representing the Maldivian government, signed the agreement with ADGM's CEO, Hamad Sayah Al Mazrouei, at a special ceremony. Minister Saeed underscored the significance of this partnership, highlighting the strategic advantages of ADGM’s regulatory and operational expertise.
“This collaboration with ADGM represents a crucial step toward establishing Maldives as a regional financial hub. By drawing on ADGM's regulatory and operational expertise, we are creating a foundation for an international financial center that aligns with President Dr. Mohamed Muizzu’s economic diversification vision and will attract global investment," Minister Saeed stated.
The MoU establishes five primary areas of cooperation, including:
1. Developing legislative and procedural frameworks for registry operations.
2. Implementing capacity-building programs, including staff training and exchanges.
3. Enhancing operational standards through shared best practices.
4. Exchanging knowledge of international standards.
5. Providing technical support to improve registry efficiency.
This partnership is set to foster knowledge-sharing, facilitate joint training programs, and provide operational support, further strengthening the economic ties between the Maldives and Abu Dhabi. The collaboration aims to accelerate the development of the Maldives’ financial sector, positioning it as a competitive player in the region’s financial landscape.
The agreement marks a significant milestone in the Maldives' journey to becoming a prominent international financial hub and opens new economic growth and investment avenues.
