MMA Awards 15 Scholarships in Islamic Finance at Tamweel FinLit Festival Launch

The Maldives Monetary Authority (MMA) has awarded 15 scholarships in Islamic finance during the official launch of the 2025 MMA Tamweel FinLit Festival, a nationwide initiative to promote financial literacy and Islamic finance awareness. The inauguration ceremony, held at the MMA headquarters, was officiated by Minister of Education Dr. Ismail Shafeeu.

The scholarships, offered in collaboration with INCEIF University Malaysia, will enable selected Maldivians to pursue the Executive Masters in Islamic Finance (eMIF), an advanced programme designed to equip leaders with the expertise and vision to strengthen enterprise and socio-economic development. Of the 15 scholarships, five are fully funded and ten are partially funded, reflecting MMA’s strategic commitment to expanding access to high-quality professional education in the field.

The eMIF programme, developed by internationally recognised scholars in both conventional and Shariah-compliant finance, is tailored for working professionals and adopts a multidisciplinary approach. It covers core principles of Islamic finance while integrating leadership development, ethical values, and innovative financial solutions. The course aims to prepare graduates to serve as catalysts for positive change, capable of influencing both organisational performance and broader community impact.

Speaking at the launch, MMA officials said the scholarship programme supports the authority’s long-term vision to develop a pool of highly skilled professionals for the Maldives’ Islamic finance sector. This aligns with the nation’s broader economic diversification efforts, as Islamic finance continues to grow in relevance for sustainable and inclusive development.

The Tamweel FinLit Festival itself will feature a range of activities and competitions targeting students, youth, and the general public, aiming to raise awareness of responsible financial management and promote understanding of Shariah-compliant financial systems. By combining educational opportunities like the eMIF scholarships with community engagement initiatives, MMA hopes to build both institutional capacity and public literacy in Islamic finance, fostering a more inclusive and values-driven financial ecosystem in the Maldives.