The Maldives Monetary Authority (MMA) has launched the Tamweel Impact Pitch Challenge 2025, a competition aimed at advancing Islamic finance solutions and research, with prize funding of up to MVR 100,000.

According to the central bank, the competition is part of the wider Tamweel Finlit Festival, open internationally and seeks to encourage innovation in Shariah-compliant financial practices. The challenge has two categories: one focused on developing new Islamic finance solutions, and the other on research and policy for inclusive Islamic finance.

The first category targets youth, startups, students, educators, and social entrepreneurs, with individuals over 18 or teams of up to three members eligible to apply. Winners in this track will receive cash awards of up to MVR 30,000, along with funding and mentorship opportunities.

The second category is designed for researchers, institutions, and professionals. It centres on policy and research-based proposals that can support the growth and sustainability of Islamic finance. Participants in this track will compete for a fund of MVR 100,000. 

Alongside the pitch challenge, the festival will feature additional events including the Finlit Challenge, the Econquest Debate Competition, the FutureFinance Essay Competition, a values and vision art competition, and a short video-making competition. These events aim to encourage diverse community engagement in financial awareness.