A major national initiative to strengthen financial literacy and promote Islamic finance awareness has been launched by the Maldives Monetary Authority (MMA) with the commencement of the Tamweel FinLit Fest 2025. The festival was officially inaugurated by the Minister of Education, Dr. Ismail Shafeeu, at a special ceremony held at the MMA headquarters.
The festival is designed as a comprehensive platform to engage students, youth, and the wider community in understanding responsible money management, sustainable economic practices, and the fundamentals of the Islamic financial system. It reflects MMA’s vision of fostering a society that is financially informed, capable of making prudent financial decisions, and well-versed in Sharia-compliant financial solutions.
Six Signature Events to Foster Knowledge, Creativity, and Innovation
Tamweel FinLit Fest 2025 features six core activities, each strategically curated to enhance knowledge, stimulate innovative thinking, and encourage creative engagement in the field of finance:
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Tamweel FinLit Challenge – A league-style quiz competition for participants aged 18 to 25, focusing on topics such as saving, budgeting, halal investing, risk-sharing, and Islamic finance principles. It aims to deliver practical financial skills in an interactive learning environment.
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EconQuest Debate Tournament – A debate series for participants aged 16 to 25, addressing critical economic themes such as sustainable development, inclusive societies, and global economic trends. The debates will enable youth to propose innovative, evidence-based solutions to national and global economic challenges.
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Impact Pitch Challenge – Open to participants over 18, this competition seeks creative, Sharia-compliant solutions to advance financial literacy and inclusion, particularly through fintech innovations. Shortlisted teams will attend a bootcamp on 15 November before pitching their concepts. Winners will receive up to USD 1,945 in cash prizes, business funding opportunities, stakeholder partnerships, and specialised training programmes.
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Future Finance Essay Competition – Targeted at school students, this competition provides a platform to share ideas on the future of the financial sector, encouraging analytical thinking and constructive perspectives.
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Values and Vision Art Competition – An opportunity for young artists to visually depict their vision of a fair and equitable financial system through creative artwork.
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Short Video Making Competition – Encouraging participants to produce 15–60 second videos promoting financial literacy and Islamic finance awareness, leveraging digital creativity for social impact.
Scholarships to Build Future Leaders in Islamic Finance
A highlight of the festival’s inauguration was the awarding of 15 scholarships in Islamic finance, offered in partnership with INCEIF University Malaysia, a globally recognised institution in Islamic financial education. The scholarships will enable Maldivian professionals to pursue the Executive Masters in Islamic Finance (eMIF), a programme designed to produce leaders who can integrate financial expertise with socio-economic development goals.
Of the 15 awards, five are fully funded and ten are partially funded, demonstrating MMA’s commitment to expanding educational access in the field. The eMIF programme is tailored for working professionals and developed by leading scholars in both conventional and Shariah finance. It goes beyond traditional finance education, incorporating leadership development, ethical values, and multidisciplinary approaches to prepare graduates to become catalysts for organisational and community transformation.
Strengthening the Islamic Finance Ecosystem
According to MMA, the Tamweel FinLit Fest 2025 aligns with the institution’s long-term strategy to develop a pool of skilled professionals who can contribute meaningfully to the Maldives’ Islamic finance industry, which continues to grow in demand and scope. By combining competitive academic opportunities with engaging public events, MMA seeks to build both grassroots awareness and advanced sector expertise.
The authority emphasised that the festival’s focus is not limited to technical financial skills; rather, it positions finance management as a tool for socio-economic progress, community development, and ethical economic participation. Through this approach, MMA aims to inspire innovation in Sharia-compliant financial services and support the nation’s economic resilience.
Engagement and Access to Information
MMA confirmed that updates, event schedules, and participation details for the Tamweel FinLit Fest 2025 will be shared on its official website and social media platforms. The authority encourages students, professionals, and creative talents nationwide to take part in the festival’s activities and contribute to shaping a financially literate, forward-thinking Maldives.
By combining education, competition, creativity, and professional development, the Tamweel FinLit Fest 2025 stands as an important step towards creating an economically empowered society, capable of navigating the complexities of the modern financial landscape while staying rooted in the values of Islamic finance.
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