President Dr Mohamed Muizzu has revealed his vision to establish the Maldives as a key financial centre focused on Islamic Finance, driven by digital economic transformation.

He made these remarks at the launching ceremony of the Maldives Islamic Social Finance Initiative on Wednesday morning. 

President Dr Muizzu stated that the launch of the Maldives Islamic Social Finance Initiative is inspired by the forthcoming National Financial Inclusion Strategy and represents a strategic step forward in advancing the nation's development agenda. 

He emphasised that the Maldives’ unified identity is rooted in enduring values of compassion, justice, and social equity, principles that lie at the heart of Islamic social finance and which this initiative aims to uphold.

He emphasised that the initiative should not be seen merely as a programme, but as a call for collective action. He remained optimistic that this initiative would foster critical partnerships between the financial sector and civil society organisations to address the needs of society.

Concluding his remarks, the President announced that the National Masterplan and Roadmap for Islamic Economics and Finance is currently being developed with the assistance of the Islamic Development Bank. This plan would outline a comprehensive ecosystem for Islamic Finance and digital innovation in the Maldives.

He shared the Government’s commitment to make the required legal reforms to support this bold vision. 

During the event, the President also inaugurated the Maldives Monetary Authority’s Islamic Social Finance research report and received commitment letters from the Bank of Maldives and Maldives Islamic Bank.