Governor of the Maldives Monetary Authority, Ministers, Honorable Guests, Excellencies, Ladies and Gentlemen,
It is with great honour and pleasure that I stand before you today to officiate the launch of the Maldives Islamic Social Finance Initiative. This initiative, inspired by the upcoming National Financial Inclusion Strategy, represents a strategic leap in the achievement of our national development agenda.
Our unified identity as a nation lies in our timeless values of compassion, justice, and social equity. These are also the essence of Islamic social finance, which this initiative aims to achieve. Guided by these core values, this initiative institutionalizes instruments such as Sadaqah, Waqf, and Islamic crowdfunding, offering critical solutions to uplift social burdens through Islamic banking framework.
The Maldives Islamic Social Finance Initiative, therefore, must not be seen as merely a program, but as a call for collective action. I remain hopeful that this benevolent initiative would foster critical partnerships between the financial sector and civil society organizations in addressing the diverse needs of our society.
Ladies and Gentlemen.
The Maldives is on the brink of a paradigm shift on its journey of economic transformation. Our vision is to establish the Maldives as a key financial centre, focused on Islamic Finance, and driven by digital economic transformation. A National Master Plan and Road Map for Islamic economics and finance is underway with the assistance of Islamic Development Bank. This Master Plan would chart a comprehensive ecosystem for Islamic Finance and digital innovation in the Maldives. For the realization of this bold vision, my Government is committed to introduce enabling laws to optimize the current legal framework.
As we embark on this promising journey, let us be guided by the enduring principle that true progress is not measured solely by economic prosperity, but by the dignity we uphold, the hope we inspire, and the opportunities we create for every citizen.
I wish to extend my sincere appreciation to MMA, Selangor Islamic University and the Islamic Banks for their collaborative efforts and expertise in launching this Initiative.