The Maldives has signed a Memorandum of Understanding (MoU) with NIPI International Payments Limited (NIPL), a subsidiary of the National Payments Corporation of India (NPCI), aimed at advancing the country’s e-commerce sector. The MoU was signed during a ceremony at the Ministry of Foreign Affairs, reflecting ongoing collaboration between the Maldives and India in digital finance.
The agreement, signed by the Ministry of Economic Development and Trade and NIPL, will facilitate the development of a digital payment system designed to provide easy and secure remittance services, improve access to financial services for underprivileged communities, and support economic activities. The initiative also seeks to enhance connectivity with national and international financial networks, enabling smoother business transactions.
The agreement further includes provisions for training and support to financial service providers in the Maldives, helping them to fully leverage emerging financial transactions and e-commerce systems.
Additionally, the Maldives and India have renewed an existing MoU between the Civil Service Commission (CSC) and the National Centre for Good Governance of India. This renewed agreement will enable the training of an additional 1,000 civil service employees, building on the initial MoU signed in 2019, which was aimed at enhancing the skills and competencies of Maldivian civil service personnel.
These agreements represent continued efforts to develop the Maldives’ e-commerce infrastructure and strengthen economic cooperation with India.
