The Maldives Monetary Authority (MMA) has inaugurated Tamweel FinLit Fest 2025, a nationwide initiative aimed at raising awareness on financial literacy, responsible money management, and Islamic finance. The festival, launched by Minister of Education Dr Ismail Shafeeu, seeks to build a society well-versed in Islamic finance, with participation from students, youth, and the wider community.
The festival features six core activities: the FinLit Challenge, EconQuest Debate Tournament, Impact Pitch Challenge, Future Finance essay competition, Values and Vision Art Competition, and a short video-making competition. These events are designed to inspire creativity, encourage innovative thinking, and position financial management as a driver of social and economic progress.
Youth engagement is central to the festival, with competitions tailored to different age groups. The FinLit Challenge will see participants aged 18 to 25 tested on saving, budgeting, halal investing, risk-sharing, and Islamic finance fundamentals. The EconQuest Debate Competition, open to those aged 16 to 25, will focus on evidence-based discussions on topics such as sustainable development, inclusive societies, and global economic growth.
The Impact Pitch Challenge aims to uncover Sharia-compliant innovations that enhance financial literacy, particularly for underserved communities. Shortlisted participants will attend a bootcamp in November before presenting their ideas, with winners receiving up to MVR 30,000 in cash prizes, business funding, training opportunities, and industry partnerships.
Other competitions will promote creativity and awareness, including the Future Finance essay contest for school students, the Values and Vision Art Competition for young artists to visualise equitable financial systems, and a video challenge for producing short clips to promote financial literacy and Islamic finance.
The MMA stated that Tamweel FinLit Fest 2025 reflects its commitment to equipping Maldivians, especially the younger generation, with the skills needed to navigate the modern financial landscape. Updates on the festival will be available on the MMA’s website and social media channels.
