Minister of Finance and Planning, Moosa Zameer, has urged the Maldives to strengthen its capital market as a pathway to sustainable development and reduced reliance on foreign aid and financing.
Speaking at the closing ceremony of the Maldives Finance Forum 2025, organised by the Maldives Pension Administration Office (MPAO), Minister Zameer said that the country’s heavy dependence on banks for financing is no longer sufficient to support its development ambitions.
He explained that a banking-focused system is unable to provide the scale of funding needed for infrastructure, housing, tourism, and diversification projects. While public financing plays an important role, he added that it cannot cover the full costs of large-scale initiatives.
According to Minister Zameer, the establishment of a robust capital market would help mobilise long-term savings and create new financing opportunities. He called for the introduction of varied investment products, including conventional bonds, Sukuk, and instruments aligned with sustainability goals such as green and blue bonds. These instruments, he noted, should also support greater access to financing for SMEs and women-led businesses, contributing to more inclusive economic growth.
The Minister stressed that this transformation cannot be driven by government alone. He called for cooperation from all stakeholders in the financial ecosystem, underlining that strategic reforms are essential for the sustained growth of both the capital market and the wider financial system of the Maldives.
