IsDB Discusses Establishment of a Microfinance Bank in the Maldives

H.E. President Dr Mohamed Muizzu held talks with The President of the Islamic Development Bank (IsDB), H.E. Dr Muhammed Al Jasser, on the sidelines of the Twenty-Eighth Session of the Conference of the Parties to the United Nations Framework Convention on Climate Change (COP28). 

The meeting covered discussions on joint efforts in critical areas, emphasising the development of the Islamic financial sector. This included plans for a Zakat House, a Waqf program, and setting up a Microfinance Bank in the Maldives. 

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President Dr Muizzu also highlighted the renewable energy goals he mentioned during his COP28 speech, underlining the need for projects focused on adaptation and infrastructure to boost climate resilience in Maldives. 

President Dr Muizzu and Dr Al Jasser agreed on the importance of bolstering the partnership between the Maldives and the Islamic Development Bank, aiming to strengthen and advance their existing relationship in the future.

The Islamic Development Bank equips people with the necessary tools to create a sustainable future for themselves, their communities, and their countries. 

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