Finance Minister Abdullah Jihad has departed to Malaysia to seek assistance for developing Islamic finance sector in the Maldives.
Finance Ministry reported that the purpose of the visit was to seek technical assistance for developing Islamic finance and developing the country as a capital market hub.
Senior Policy Executive of the Ministry Abdul Ghafoor Abdul Latheef, Maldives Center for Islamic Finance Limited Board Director Dr. Aishath Muneeza, Khazana Maldives Chairperson and Project Manager at Ministry of Economic Development Lamya Ibrahim and Maldives Center for Islamic Finance Limited’s Managing Director Ibrahim Didi are taking part in the initiative.
As part of the visit, Minister Jihad had met Securities Commission Malaysia, Halal Industry Development Corporation Malaysia, Maybank Islamic Malaysia, IBIFM, International Shariah Research Academy, INCIF, the Global University of Islamic Finance, Burusa Malaysia and heads of Ziko Law Firm.
Minister Jihad had also met heads of Labuan International Business and Finance Center and held discussions on establishing among others offshore banking. He also met Chair of Exim bank, his Malaysian counterpart and Deputy Governor.
The Government had launched an ambitious plan to develop the country as an Islamic finance hub, including developing a financial sector in Hulhumale’.