President Dr Mohamed Muizzu has stated that his Administration’s vision is to establish the Maldives as a key financial centre focused on Islamic Finance, driven by digital economic transformation.
He made these remarks while speaking at the launching ceremony of the Maldives Islamic Social Finance Initiative on Wednesday morning.
The President noted that the launch of the Maldives Islamic Social Finance Initiative is inspired by the forthcoming National Financial Inclusion Strategy and marks a strategic step forward in advancing the nation’s development agenda. He emphasised that the Maldives’ unified identity is grounded in enduring values of compassion, justice, and social equity — principles that form the essence of Islamic social finance and which this initiative seeks to uphold.
He stressed that the initiative should not be seen merely as a programme, but as a call for collective action.
President Dr Muizzu expressed optimism that this initiative would foster critical partnerships between the financial sector and civil society organisations to address the diverse needs of society.
Concluding his remarks, the President announced that the National Master Plan and Roadmap for Islamic Economics and Finance is currently underway with the assistance of the Islamic Development Bank. He stated that the Master Plan would outline a comprehensive ecosystem for Islamic Finance and digital innovation in the Maldives. To support this bold vision, the Government is committed to legal reforms to optimise the current legal framework.
During 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.
