In a notable diplomatic endeavor, Finance Minister Dr. Mohamed Shafeeq, flanked by Minister of Islamic Affairs Dr. Mohamed Shaheem Ali Saeed and Minister of State for Finance Hussain Sham Adam, led a high-profile Maldivian delegation at the ongoing Islamic Development Bank Annual Meetings 2024 in Riyadh, Saudi Arabia.

Their agenda included a pivotal meeting on Saturday with Dr. Hiba Ahmed, Director General of the Islamic Solidarity Fund for Development (ISFD), a critical arm of the Islamic Development Bank dedicated to poverty alleviation.

The focus of the dialogue centered on strategies to bolster the role of Islamic finance within key social sectors across the Maldives.

In particular, the delegation and ISFD officials explored avenues for collaboration aimed at advancing initiatives such as the Maldives Zakat House and promoting investments in awqaf, or Islamic endowments.

These discussions underscored the commitment of both parties to leverage Islamic financial principles to address socio-economic challenges and foster sustainable development within the Maldives.

The Islamic Solidarity Fund for Development (ISFD) operates as a pivotal instrument in the Islamic Development Bank's mission to combat poverty.