Economic Ministry has signed an MoU with the Qatar Financial Center (QFC) for working on establishing a Financial Center in the Maldives.

The ministry said the MoU will promote the financial center and provide important consultations for the establishment of the centre.

"The partnership will drive knowledge exchange and strengthen financial ecosystem through expert collaboration," the ministry said in a post on X.

Under the MoU, QFC will conduct knowledge sharing sessions on best practices in financial management, regulatory frameworks and operational strategies.

"This MoU is a significant step towards establishing a robust international financial centre as envisioned by President Dr. Mohamed Muizzu," said Economic Minister Mohamed Saeed.

Speaking at the MoU signing ceremony, QFC Chief Executive Officer (CEO) Yousef Mohamed Al-Jaida said it was an honor to reach an agreement with the Economic Ministry.

"This partnership underscores our dedication to fostering a lasting, impactful networks with global financial institutions and supports our aim to build a sustainable financial ecosystem that drives economic prosperity," he said.