The MIFC aims to serve as a digital-first, borderless, and sustainable financial ecosystem, leveraging the Maldives' strategic location at the heart of the Indian Ocean.
The President's Office
In a landmark event that could redefine the nation's economic trajectory, President Dr Mohamed Muizzu on Sunday evening, May 4, 2025, announced the formal establishment of the Maldives International Financial Centre (MIFC). The announcement was made during the signing ceremony of a joint venture agreement and Memorandum of Understanding (MoU) between the Ministry of Finance and Planning and MBS Global Investments.
Held in Malé, the high-profile ceremony was attended by distinguished guests, including prominent international dignitaries and investors. The event marked what President Muizzu described as ‘the beginning of a bold new chapter’ for the Maldives—one driven by ambition, innovation, and transformation.
In his keynote address, President Muizzu declared the MIFC as a ‘legacy of bold decisions, courageous partnerships, and national purpose.’ He positioned the financial centre as a cornerstone of his administration’s long-term economic vision and a key instrument for transforming the Maldives into a developed nation by the year 2040.
President Dr Muizzu described the MIFC as a commitment to diversifying the Maldives’ economy beyond traditional boundaries, to empowering Maldivians with opportunity, resilience, and pride, as well as a commitment to the world that the Maldives is ready to lead in reimagining the future of finance, sustainability, and urban living.
The MIFC aims to serve as a digital-first, borderless, and sustainable financial ecosystem, leveraging the Maldives' strategic location at the heart of the Indian Ocean. President Muizzu emphasised that the Maldives would not replicate past models, but instead establish a new benchmark—one that is inclusive and future-ready.
He added that the centre would generate multibillion-dollar revenues and significantly contribute to the national GDP over the long term, unlocking opportunities across sectors and industries.
“MIFC, with its projected multibillion-dollar revenues and significant long-term contributions to the Maldives’ national GDP, would be a catalyst for unlocking opportunities across industries”, President Dr Mohamed Muizzu.
The joint venture agreement and MoU signed during the event formalised a strategic partnership between the Maldivian government and MBS Global Investments to spearhead the MIFC’s development. Following the signing, President Muizzu presented commemorative mementoes to the attending dignitaries, symbolising the beginning of a transformative journey.
