President Dr Mohamed Muizzu graced the launch of key economic sector development programmes during a ceremony held at Barceló Nasandhura this morning.
The President was welcomed to the ceremony by the Governor of the Maldives Monetary Authority (MMA), Ahmed Munavvar, and senior officials.
During the ceremony, President Dr Muizzu officially launched the National Financial Inclusion Strategy (NFIS) and the National Sustainable Finance Roadmap (NSFR).
These initiatives aim to strengthen the national economic system in response to the impacts of climate change and to mitigate damage caused by environmental disasters. Both strategies are designed to broaden the economic sector while supporting the Maldives’ social and economic development goals.
The National Financial Inclusion Strategy (NFIS), also referred to as the economic empowerment strategy, aims to enhance access to financial services and promote their effective usage across all segments of society.
The National Sustainable Finance Roadmap provides a structured approach to mobilising finance for climate action and sustainable development. It seeks to align the financial sector with national resilience objectives by encouraging the development of green, social, and sustainability-linked financial products, strengthening enabling regulations, and directing capital towards priority areas such as climate adaptation, renewable energy, sustainable housing, and resilient infrastructure.
The ceremony also marked the launch of ‘Payment Maldives’ Company, which was inaugurated by Governor Munavvar. Payment Maldives Private Limited has been established by the Maldives Monetary Authority to develop and manage payment infrastructure, with the aim of improving the speed and efficiency of services provided to individuals and businesses.
According to the MMA, ‘Payment Maldives’ will operate under separate management and will oversee payment systems, including the Automated Clearing House (ACH), with responsibility for managing and developing retail payment systems.
President Dr Muizzu presented tokens of appreciation to five parties in recognition of their contributions and services to the Maldives Monetary Authority during the ceremony.