The Ministry of Economic Development & Trade of the Maldives has entered into a Memorandum of Understanding (MoU) with the Abu Dhabi Global Market (ADGM) Registration Authority to strengthen registry operations. The agreement aims to support the development of the Maldives International Financial Centre, aligning with President Dr Mohamed Muizzu’s vision for economic diversification.
The MoU was signed in a ceremony featuring Mohamed Saeed, Minister of Economic Development & Trade of the Maldives, and Hamad Sayah Al Mazrouei, CEO of ADGM Registration Authority. Minister Saeed highlighted the strategic value of this partnership, noting that it represents a significant step towards establishing the Maldives as a regional financial hub. He emphasised that drawing on ADGM’s expertise would aid in creating a robust financial centre capable of attracting global investments.
The agreement outlines five key areas of collaboration, including:
- Development of legislative and procedural frameworks for registry operations.
- Implementation of capacity-building initiatives, including staff training and knowledge exchanges.
- Enhancement of operational standards through shared best practices.
- Exchange of knowledge on international regulatory standards.
- Provision of technical support to improve efficiency in registry services.
Both parties will engage in regular knowledge-sharing sessions, joint training programmes, and mutual operational support. This collaboration is expected to accelerate the development of the Maldives’ financial sector while strengthening economic ties between the two jurisdictions.
The partnership reflects a shared commitment to fostering growth in the financial services sector, with the Maldives aiming to establish itself as a competitive financial hub in the region.
