Jumhooree Party Leader Qasim Ibrahim has hailed the establishment of the Maldives International Financial Centre (MIFC) as a pivotal milestone and commended President Dr Mohamed Muizzu for his decisive leadership in advancing the initiative.

The Maldivian Government has signed a landmark agreement with MBS Global Investments to implement the MIFC—a monumental project valued at 8.8 billion US dollars.

Qasim Ibrahim, Member of Parliament for the Maamigili Constituency and Leader of the Jumhooree Party, underscored the strategic importance of the MIFC in transforming the nation's economic framework. He characterised the project as a timely and essential step toward positioning the Maldives as a global financial hub, capable of attracting international capital, talent, and innovation.

Highlighting the initiative’s broader societal impact, Ibrahim stressed that the MIFC would open new avenues for local entrepreneurs and empower Maldivian youth through expanded economic opportunities. He called on political stakeholders across party lines to unite in support of the project, acknowledging its long-term potential to drive national development and economic inclusivity.

Envisioned as a cornerstone of the Maldives' future financial architecture, the MIFC is designed to foster a modern, diversified economy. It aims to develop a dynamic financial services sector and establish a multi-purpose development zone, positioning the Maldives as a premier financial destination in the Indian Ocean.

This groundbreaking venture represents the largest investment initiative ever undertaken in the Maldives and aligns with the Government’s strategic objective to reduce reliance on tourism. By promoting investment in emerging and non-traditional sectors, the MIFC aspires to strengthen the nation’s economic resilience and sustainability.

The masterplan, crafted by acclaimed architect and urban planner Gianni Ranaulo, places a strong emphasis on environmental integration. Every component, from large-scale infrastructure to individual architectural elements, has been thoughtfully designed with respect for the Maldives’ unique biodiversity and delicate marine ecosystems.

Spanning approximately 780,000 square metres, the development will accommodate over 6,500 residents and is projected to host up to 35,000 visitors daily, marking a new era in the country’s urban and financial landscape.