A high-level delegation from the Maldives Monetary Authority (MMA), led by Governor Ahmed Munawar, took part in the 7th Meeting of the Central Banks Forum under the Organization of Islamic Cooperation’s (OIC) Standing Committee for Economic and Commercial Cooperation (COMCEC), held in Istanbul, Türkiye, from 28th to 29th September 2025.
This annual forum serves as a key platform for central bank governors and senior policymakers across OIC member states to engage in discussions on fiscal cooperation, financial system integration, and strategies to navigate global economic uncertainties. The 2025 edition focused on pressing issues such as global trade disruptions, economic fragmentation, and geopolitical risks, all of which are increasingly relevant to the macroeconomic outlooks of emerging and developing economies.
Governor Ahmed Munawar contributed to the high-level dialogue on the theme “Navigating the Global Economy amid Trade Fragmentation and Geopolitical Risks: Implications for OIC Countries.” In his remarks, he emphasized the need for stronger coordination between OIC central banks to mitigate external shocks, build resilient financial systems, and adopt inclusive economic policies. He also highlighted the Maldives’ efforts in improving cross-border payment infrastructure and maintaining financial stability, particularly in the context of the country’s tourism-driven economy.
During the event, Governor Munawar held a bilateral meeting with Fatih Karahan, Ph.D., Governor of the Central Bank of the Republic of Türkiye. The meeting centered on fostering stronger institutional ties between the two monetary authorities, with an eye toward technical cooperation, knowledge exchange, and improved interoperability of financial systems. Both sides discussed avenues to enhance regulatory frameworks that support digital transactions and facilitate safer and more efficient cross-border payments.
The Central Banks Forum forms part of the broader OIC–2025 Programme of Action, which seeks to deepen economic ties among Islamic countries through collaborative frameworks, harmonized policy approaches, and capacity building initiatives. By participating actively in such regional platforms, the Maldives not only strengthens its voice in international economic discourse but also ensures alignment with best practices in financial governance and monetary policy.
This engagement reinforces the Maldives’ commitment to international cooperation in economic development and its proactive approach in addressing global fiscal challenges. As a nation that relies heavily on tourism, sound monetary policy and robust financial regulation are crucial to ensuring sustainable growth, currency stability, and investor confidence. The Maldives Monetary Authority continues to play a pivotal role in steering the country’s financial sector towards greater resilience and integration with global economic systems.
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