The partnership with MBS Global Investments represents a strategic alliance for the Maldives, bringing significant financial backing to the ambitious blockchain hub. MBS, a family office managing approximately $14 billion in assets, is backed by Sheikh Nayef bin Eid Al Thani, a member of the Qatari royal family.12 The Dubai-based firm has already secured commitments worth between $4-5 billion for the project's initial phases, utilizing a mix of equity and debt financing through a network of high-net-worth individuals and other family offices.13

The joint venture agreement, signed on May 4, 2025, establishes the Maldives International Financial Centre (MIFC) as a financial free zone offering attractive incentives including no corporate tax, tax-free inheritance, and privacy protections.45 According to Finance Minister Moosa Zameer, this partnership represents a departure from traditional borrowing models, positioning it as a business venture rather than conventional debt financing.13 The project aims to create approximately 16,000 jobs across various sectors including finance, law, tourism, and education, providing significant employment opportunities for Maldivian citizens.26

The Maldives International Financial Centre (MIFC) is designed as a wholly sustainable, blockchain-powered financial freezone spanning 830,000 square meters in Malé. Set to be completed by 2030, this ambitious development will accommodate over 6,500 residents and create approximately 16,000 jobs while attracting an estimated 35,000 daily visitors.12 The project is being developed under the oversight of the Maldives International Financial Services Authority (MIFSA), the centralized government agency committed to maintaining international standards and best practices.34

The MIFC offers compelling incentives for investors and businesses, including zero corporate tax, tax-free inheritance, constitutional ownership rights, and privacy protections with no residency requirements.56 Residents will benefit from multi-currency banking facilities and access to offshore private banking, with future-ready regulations supporting digital assets and green finance.5 The development is projected to triple the Maldives' GDP within four years of operation, generating over $1 billion in revenue by the fifth year-positioning Malé as the premier business and financial hub in the Indian Ocean region.78

The Maldivian economy has traditionally been heavily dependent on tourism, which directly accounts for over 20% of GDP with an indirect contribution reaching 79%12. This overreliance creates significant vulnerability to external shocks, as demonstrated during the pandemic. To build economic resilience, the government is pursuing diversification across multiple sectors:

• Maritime and Fisheries: Once accounting for 35% of GDP alongside agriculture in 19801, fisheries remains the second largest industry, employing 20% of the active labor force34. The government is exploring sustainable fisheries, bunkering services, and mariculture as growth opportunities156.

• Digital Economy: The establishment of tech-focused initiatives aims to create a services-led economy where startups can access global markets7. Maldivian entrepreneurs are already innovating in tourism gaps, education, and digital services7.

• Financial Services: The upcoming Maldives International Financial Centre in 2025 will offer incentives like tax holidays and customs duty exemptions to attract diverse industries89.

• Agriculture: Despite limited arable land, agriculture provides income for approximately 25% of the rural workforce, with farmers increasingly adopting organic hydroponic systems to meet growing demand3.