Gov’t announces plans to make Maldives a hub for Islamic finance

Minister of Finance Moosa Zameer has announced that the government is working towards making Maldives a regional hub for Islamic finance. In an exclusive interview with PSM News, the minister emphasized that establishing the Maldives as an Islamic finance hub is a key vision of the current government. To support this initiative, a dedicated department has been set up within the Ministry of Finance. Minister Zameer also highlighted the formation of a Sharia Advisory Committee in accordance with regulatory requirements, as well as efforts to expand Islamic financial resources. Noting that the government is also preparing to issue its first Islamic securities, the minister confirmed that the first listed and government-owned sukuk, approved by the Maldives Stock Exchange (CMDA), is now ready for issuance. Minister Zameer further emphasized the importance of raising public awareness about Islamic finance, noting that the results of these efforts will be seen in the near future.