President Dr Mohamed Muizzu has declared the Maldives International Financial Centre (MIFC) as a bold national legacy, driven by courageous partnerships and a strong sense of purpose. Speaking at the joint venture agreement and Memorandum of Understanding (MoU) signing ceremony held Sunday night, President Muizzu highlighted the MIFC as a turning point in the nation’s economic journey.
The high-profile event, attended by several international dignitaries and distinguished guests, marked the formal beginning of an ambitious initiative to transform the Maldives into a regional financial powerhouse. President Muizzu described the establishment of the MIFC as a declaration of intent — to diversify the Maldives’ economy beyond its traditional sectors, empower Maldivians, and position the country as a global innovator in finance, sustainability, and smart urban living.
“This is our launchpad to becoming a developed nation by 2040,” said President Muizzu. “The Maldives is not just a destination or a small island state. We are a smart island nation, a driver of global change, at the Centre of the Indian Ocean’s economic and digital evolution.”
He underscored that the MIFC would not replicate outdated models but would pioneer a new financial ecosystem — one that is digital-first, borderless, inclusive, sustainable, and future-ready. According to the President, the MIFC is projected to generate multibillion-dollar revenues and contribute significantly to the national GDP, opening doors to new industries and uplifting communities across the country.
“The MIFC is about opportunity, resilience, and pride. It is about setting a benchmark for the future,” President Muizzu stated, expressing confidence in the Centre’s role in shaping future generations of Maldivians.
The ceremony also saw the signing of the joint venture agreement and MoU between the Ministry of Finance and Planning and MBS Global Investments. President Muizzu personally oversaw the proceedings and presented commemorative mementoes to the attending dignitaries, marking the start of what he called an “extraordinary journey” with clarity, conviction, and optimism.
The MIFC initiative represents a strategic move by the Maldives to expand its economic horizons and integrate into the evolving global financial landscape.