Established as a high-level advisory body to the MMA, MIFSAC continues to guide the strategic direction and long-term development of the Islamic finance industry in the Maldives.
MMA
On 9 July 2026, the Maldives Monetary Authority (MMA) convened the second meeting of the Maldives Islamic Finance Strategic Advisory Council (MIFSAC).
Established as a high-level advisory body to the MMA, MIFSAC continues to guide the strategic direction and long-term development of the Islamic finance industry in the Maldives. The meeting focused on advancing the council's ongoing work and discussing key priorities to further strengthen the development of Islamic finance in the Maldives.
The inaugural meeting for MIFSAC was held on 12 December 2025, with Tan Sri Dr Zeti Aziz chairing the council and Prof. Emeritus Dato' Azmi Omar serving as Vice Chairperson. Other distinguished members include Prof. Datuk Dr Muhammad Akram Laldin, Prof. Dr Aishath Muneeza, Associate Prof. Dr Ismail Nizam, and Ustaz Ahmed Firas—all prominent leaders in global Islamic finance. The inaugural meeting was also observed by a senior official from Maldives Islamic Bank (MIB), the Bank of Maldives (BML), and Allied Takaful also in attendance.
