The Maldives Monetary Authority (MMA) has signed a landmark Memorandum of Understanding (MoU) with the International Islamic University of Malaysia (IIUM) and The Maldives National University (MNU), setting the stage for a new era of collaboration in financial governance, Islamic finance, and policy research.
The tripartite agreement—formalized by MMA Governor Ahmed Munawar, IIUM Rector Prof. Emeritus Datuk Dr. Osman Bakar, and MNU Vice Chancellor Dr. Aishath Shehenaz Adam—aims to strengthen institutional capacity and develop specialized human capital within the Maldives’ financial sector.
Maldives Monetary Authority (MMA) and the International Islamic University Malaysia (@OfficialIIUM) signed a Memorandum of Understanding (MoU) to enhance collaboration in research, education, and capacity development.
The signing ceremony was held alongside an inspiring Islamic… pic.twitter.com/NFx4EgtVgE— MMA (@MMA_Maldives) October 14, 2025
Building Expertise in Islamic and Central Banking
Under the MoU, the three institutions will collaborate on training programs, internships, and knowledge exchange initiatives that enhance the technical proficiency of central bank professionals and financial practitioners. The partnership focuses on improving competencies in monetary policy implementation, financial system analysis, and Shariah-compliant regulatory frameworks—areas that remain critical to the country’s growing Islamic finance landscape.
Leveraging IIUM’s internationally recognized expertise in Islamic banking and finance, the collaboration will help the MMA develop innovative Islamic financial instruments and strengthen oversight mechanisms. This initiative aligns with the Maldives’ ambition to expand participation in the global Islamic finance industry, valued at over USD 4 trillion worldwide, while ensuring local regulatory standards remain in line with international best practices.
Advancing Research and Policy Innovation
The agreement also highlights a strong emphasis on joint academic research focusing on monetary policy, financial stability, and fintech advancements. Through this partnership, IIUM, MNU, and MMA aim to produce evidence-based policy recommendations that support sound economic governance and enhance financial system resilience.
Maldives Monetary Authority (MMA) and The Maldives National University (@MNUedu) have signed an MoU to enhance cooperation in research, training, and human capital development — strengthening the link between academia and the financial industry. pic.twitter.com/ITmTQViIYe
— MMA (@MMA_Maldives) October 14, 2025
In addition, the institutions will work together to design academic curricula that bridge the gap between theory and practice—integrating Islamic finance principles with real-world central banking applications. This approach is expected to produce graduates capable of addressing both domestic and international financial sector needs.
Strengthening Regional and Institutional Collaboration
The MoU establishes a structured platform for ongoing policy dialogue and academic exchange, ensuring continuous engagement between regulators and scholars. By partnering with MNU and IIUM—both institutions with strong regional linkages—the Maldives positions itself as an emerging player in regional Islamic finance integration and research collaboration.
Strategic Vision for a Knowledge-Driven Economy
The agreement marks a pivotal milestone in the MMA’s strategic goal of building a knowledge-driven financial ecosystem that supports sustainable economic growth. It reinforces the Maldives’ long-term vision to become a regional hub for Islamic finance and regulatory innovation, contributing to broader financial inclusion and economic diversification.
Through this partnership, the Maldives Monetary Authority reaffirms its commitment to advancing financial sector expertise, deepening Islamic finance capacity, and fostering evidence-based policymaking that supports the country’s economic transformation agenda.
