The Maldives Monetary Authority (MMA) inaugurated its first-ever research conference, "Advancing Economic Research: Policy and Innovation for a Sustainable Future," on December 14, 2024.

A key highlight of the conference was the launch of the MMA Research Fund, established with an initial allocation of MVR 1 million. The fund seeks to promote research and bridge gaps between stakeholders to advance effective policy-making and innovation.

During the opening ceremony, MMA Governor Ahmed Munawar underscored the importance of robust research in developing effective policies. The chief guest, Chancellor of Maldives National University, Dr Mahamood Shougee emphasised the need for collaboration among Maldivian agencies to enhance economic research and achieve progress.

Two Memorandums of Understanding (MOUs) were signed at the conference. The first, with Universiti Islam Selangor, Malaysia, aims to promote economic research and cooperation in education and innovation. The second, with Dhiraagu, focuses on enhancing research and developing innovative solutions for a sustainable future.

The conference also featured two panel discussions, streamed live on MMA’s social media platforms, with participation from local and international experts in economics and financial technology. The first panel explored advancements in financial technology, while the second addressed the impact of climate change and global energy shifts on economies like the Maldives.

Three research papers were presented during the event. The first examined the income gap and inflation disparities across the Maldives, the second analysed price changes resulting from GST implementation, and the third explored rent price trends in urban areas.

The conference will continue on Sunday with workshops focusing on monetary policy, fiscal cycles, and climate-related economic challenges, aiming to foster sustainable economic development in the Maldives.