Maldives International Financial Services Authority (MIFSA) on Sunday evening, unveiled its official logo.
The Minister of Economic Development and Trade Mohamed Saeed shared the official logo of the new government institution on X, adding its administrative and operational proceedings were afoot with strategies and operational framework currently being finalized.
Earlier on Tuesday last week, the former Vice President Abdulla Jihad was appointed as the Chairman of MIFSA.
The new institution was established by the Maldives President Dr. Mohamed Muizzu in accordance with the authority he is conferred by Article 116 of the Maldives Constitution. MIFSA falls under the mandate of the Ministry of Economic Development and Trade.
MIFSA was established to develop a legal framework for the provision of onshore financing services in addition to offshore financing services mentioned in the Special Economic Zones (SEZ) Act.
The institution would enable the formation of offshore and onshore development banks and international financial centers, and conduct research to seek modern solutions for the legal and administrative challenges of establishing a competitive system to develop financial markets.