News Desk
MALÉ, Maldives — Looking to the future of finance, President Dr. Mohammed Muizzu announced plans for a digital currency in the Maldives, a significant move towards establishing the country in the global digital economy. Speaking to graduates at the Maldives National University, President Muizzu highlighted the transformative potential of digital finance, with a goal of elevating the nation’s digital economy to 15% of GDP by 2030.
Directing the Maldives Monetary Authority to explore frameworks for the new currency, President Muizzu emphasized that it would adhere to international standards, prioritizing security and accessibility. He noted that this transition aims not only to modernize the economy but also to generate job opportunities for tech-savvy graduates.
“These are the opportunities for graduates, youth, and various professionals to be involved in the economy,” he stated, as he underscored the Maldives’ aspiration to be a progressive player in the digital arena.
As part of a broader economic strategy, President Muizzu also outlined plans to establish a comprehensive digital payment gateway system, designed to help local entrepreneurs and creatives reach global markets. This push for a digital economy aligns with the president’s vision to diversify the nation’s economic base beyond tourism and to foster more resilient sectors capable of withstanding global fluctuations.
In addition to the digital currency initiative, President Muizzu hinted at forthcoming legislative and structural reforms to bolster the growth of digital sectors, promising a regulatory environment conducive to innovation while upholding best practices. The move toward adopting digital currency, coupled with housing reform, represents a cornerstone of his administration’s objectives to diversify the economy and integrate Maldivians into high-growth global sectors.
