The Maldives Monetary Authority (MMA) has awarded scholarships to 15 candidates for Master’s-level studies in Islamic Finance, reinforcing the authority’s commitment to developing human capacity in the country’s growing Islamic finance sector.

The scholarships were officially presented by Minister of Education Dr Ismail Shafeeu during a special ceremony held at the MMA headquarters on Sunday.

Through this initiative, recipients will enrol in the Executive Master’s in Islamic Finance programme at INCEIF University, Malaysia. Designed by world-renowned scholars specialising in both conventional and Shariah-compliant finance, the course offers a comprehensive curriculum to enhance leadership skills, deepen sectoral expertise, and enable professionals to contribute effectively to business growth and socio-economic development.

Of the 15 awards, five are fully funded, while the remaining ten are partially funded. The programme is targeted at professionals working in Islamic finance, with a focus on equipping them to drive meaningful change within their institutions and communities.

According to MMA, the scholarships are part of its strategic objectives to support the expansion and advancement of Islamic finance in the Maldives.