Malé, Maldives – The Maldives has officially launched the Maldives International Financial Centre, or MIFC — a bold new initiative aimed at positioning the country as a regional hub for finance, innovation, and digital transformation.

The launch was marked on Sunday night with the signing of a joint venture agreement and Memorandum of Understanding between the Ministry of Finance and Planning and MBS Global Investments. The ceremony was attended by President Dr Mohamed Muizzu and several high-profile international dignitaries.

MIFC is part of the government’s strategy to diversify the Maldives' economy beyond tourism and fisheries. With its digital-first, borderless, and sustainable design, the centre is expected to generate multibillion-dollar revenues and make significant long-term contributions to the national GDP.

Officials say the MIFC will offer a modern, inclusive financial ecosystem that aligns with international standards and opens up new opportunities across industries — from fintech and green finance to urban innovation. It’s seen as a key pillar in the Maldives’ goal of becoming a developed nation by 2040.

The ceremony concluded with the President presenting commemorative mementoes to distinguished guests, marking the beginning of what the government calls a transformative chapter in the country’s economic journey.