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Maldives International Financial Services Authority

Maldives International Financial Services Authority was instituted under Article 116 of the Constitution of the Republic of Maldives with the vision to develop a world class financial hub in the Maldives

MIFSA

Established by President Dr. Mohamed Muizzu, the Maldives International Financial Services Authority (MIFSA) is central to his vision to transform the Maldives into a global business hub. As the lead agency under the Ministry of Economic Development and Trade, MIFSA is dedicated to creating a dynamic and competitive ecosystem that attracts international financiers and businesses.

Our commitment to robust legal frameworks and good governance is unwavering. We conducted a comprehensive study with key representatives from both the public and private sectors, including insightful visits to the UAE, Qatar, and Bahrain. Under the guidance of our Governing Board, the Maldives International Financial Centre Bill was meticulously drafted between May and July 2024 and submitted to the Attorney General’s Office on July 22, 2024. This pivotal Bill is set to be presented during the Parliamentary session this year.

In addition to legislative efforts, MIFSA has been instrumental in obtaining a banking license from the Maldives Monetary Authority (MMA), conducting a feasibility study for the Development Bank of Maldives (DBM), and executing the DBM office project. These efforts culminated in the successful launch of the Development Bank of Maldives on November 17, 2024.

Our Mission

MIFSA's mission is twofold

Our Aim