Economic Minister Saeed to UK seeking assistance to develop finance sector

Minister of Economic Development and Trade Mohamed Saeed speaking at the Invest Maldives Forum held in Dubai, UAE -- Photo/ President's Office

Maldivian Economic Minister Mohamed Saeed, on Monday, traveled to the United Kingdom (UK) to attend the Commonwealth Trade and Investment Roundtable.

According to the Economic Ministry, the purpose of the Minister’s visit is to seek assistance from the participants of UK financial sector in order to develop a vibrant financial market in the Maldives, which the Ministry states is vital for the nation’s economic and social development.

The discussions held by the Minister in this regard will center on the development of Maldives International Financial Services Authority and Development Bank.

In this regard, the Economic Ministry said the visit will pave the way to establish formal working relationships with UK financial services firms on modernizing legal framework, financial sector infrastructure and the development of a modern and world-class governance strategy and operations for the establishment of international financial centres in the Maldives.

Minister Saeed, as part of these efforts, will meet UK government officials, members of the House of Lords and representatives from the UK financial and professional services industry in the course of the visit.