Maldives to Build Blockchain-Focused Financial Hub with $8.8 Billion Investment from Dubai-Based Firm

In Brief:

The Maldives is partnering with Dubai’s MBS Global Investments to create a $8.8 billion blockchain and digital asset-focused financial hub by 2030.

The initiative, called the Maldives International Financial Centre (MIFC), aims to diversify the economy beyond tourism and reduce debt reliance.

In a groundbreaking move to transform its economy, the Maldives government has entered into a joint venture with Dubai-based MBS Global Investments. Together, they will develop the Maldives International Financial Centre (MIFC), a blockchain and digital asset-focused financial hub set to reshape the country’s economic landscape by 2030.

The $8.8 billion investment will be implemented over five years, funded through both equity and debt, with MBS Global securing $4–5 billion in initial commitments. The MIFC project aims to diversify the Maldives’ tourism-dependent economy, attract foreign investments, and generate significant employment opportunities. It is expected to contribute over $1 billion in revenue by its fifth year, marking a significant step toward economic resilience.

The MIFC will feature attractive tax incentives, such as no corporate taxes, tax-free inheritance, and constitutional ownership rights. Additionally, it will support multi-currency and offshore private banking and will serve as a hub for green finance and digital asset services.

As the Maldives faces mounting financial challenges, including significant debt obligations, this blockchain hub presents an opportunity to reduce reliance on loans and boost GDP. President Mohamed Muizzu has stated that the MIFC will be a beacon of innovation, serving as a symbol of economic resilience and helping secure the nation's future prosperity.

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