Minister of Finance and Development Planning, Moosa Zameer, has stated that the role of the capital market is significant in reducing dependence on foreign aid and loans for sustainable development, and it is important to further expand this sector. The Minister said this while delivering a speech at the closing ceremony of the ‘Maldives Finance Forum’ organized by the Pension Administration Office. The ‘Maldives Finance Forum 2025′ is an annual forum held to strengthen the Maldives’ financial sector, bringing together senior officials in the field to discuss in detail the economic advancements that can be brought to the Maldives.
Speaking at the closing ceremony of this year’s Finance Forum, Minister of Finance and Development Planning Moosa Zameer said that while the Maldivian economy is growing year by year, the country’s financial system is most dependent on banks. However, he said that it is difficult to obtain financing solely through banks for areas such as infrastructure development, housing, tourism, and the blue economy.
The Minister said that it is also important to strengthen the domestic revenue system and reduce dependence on foreign aid and loans for sustainable development. He added that it is also challenging to obtain funding for development projects solely through public financing. “A capital market is important to solve these issues. In this regard, the capital market plays an important role in expanding opportunities for long-term savings investments and financing, and increasing economic productivity. We need to introduce different investment products and open up opportunities,” said Finance Minister Moosa Zameer.
Furthermore, he said that opportunities should be established to invest in bonds, sukuk, green and blue bonds aligned with sustainable goals, and to facilitate easy access to capital for small and medium enterprises and women-led businesses. The Minister said that this is not something that can be achieved by the government alone, and the cooperation of all institutions and companies is important in this matter. Minister of Finance and Development Planning Moosa Zameer also stated that if the Maldivian financial system is structured in such ways, not only the capital market but also the financial market will grow.
