As part of the ongoing efforts to strengthen and develop the financial sector of the Maldives, the Maldives Monetary Authority (MMA) officially launched the National Financial Inclusion Strategy and the National Sustainable Finance Roadmap today.
These strategies were inaugurated by President Dr. Mohamed Muizzu at a special ceremony held at Hotel Jen. The ceremony was attended by government ministers, senior officials from various ministries, heads of financial institutions, and development partners of the MMA.
The primary objective of these two strategies is to expand the services available within the financial system and facilitate easier access to them. Additionally, expanding the role of the financial sector in climate change mitigation and recovering from climate-related disasters is a significant component of this initiative. This is expected to bring substantial progress to the social and economic development of the Maldives.
The National Financial Inclusion Strategy is a plan formulated to pave the way for easier access to financial services and to increase the utilization of such services. Under this strategy, efforts will be made to provide individuals and businesses with the resources, information, and confidence required to participate fully in the financial system.
The strategy places special emphasis on addressing the challenges faced by women, youth, and the elderly, as well as small and medium-sized enterprises (SMEs). Furthermore, increasing financial literacy and protecting the rights of consumers are also key targets of this strategy.
The two strategies launched today represent a significant milestone under the agenda to develop and further expand the Maldivian financial system. This will lead to the establishment of an inclusive, robust financial system that supports the achievement of national development goals.
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