The Maldives has launched two national frameworks aimed at strengthening financial access and mobilising finance for sustainable development, alongside the establishment of a new entity to manage payment infrastructure.
The National Financial Inclusion Strategy and the National Sustainable Finance Roadmap were unveiled during a ceremony held at Barceló Nasandhura. The event was attended by senior officials from the financial sector and government institutions. President Dr Mohamed Muizzu was present at the ceremony, where he formally inaugurated the initiatives.
The National Financial Inclusion Strategy, also described by officials as an economic empowerment framework, focuses on expanding access to financial services and improving their effective use across different segments of society. The strategy is intended to support broader participation in the formal financial system and contribute to long-term social and economic development.
The National Sustainable Finance Roadmap sets out an approach to channel financing towards climate action and sustainable development priorities. It aims to align financial sector activity with national resilience objectives by encouraging green, social, and sustainability-linked financial products, strengthening regulatory frameworks, and directing capital towards areas such as climate adaptation, renewable energy, sustainable housing, and resilient infrastructure.
The ceremony also marked the inauguration of Payment Maldives, which was launched by Ahmed Munavvar, Governor of the Maldives Monetary Authority. Payment Maldives Private Limited has been established by the MMA to develop and manage national payment infrastructure, with a focus on improving the speed and efficiency of services for individuals and businesses.
According to the MMA, the company will operate under separate management and will be responsible for overseeing payment systems, including the Automated Clearing House, as well as the development of retail payment systems in the Maldives.
During the event, President Muizzu also presented tokens of appreciation to five parties in recognition of their contributions and services to the Maldives Monetary Authority.
