MMA Opens Applications for 35 Islamic Finance Scholarships to Build Local Capacity

The Maldives Monetary Authority (MMA) has invited applications for 35 higher education scholarships under its Tamweel Islamic Finance Initiative, a strategic programme designed to strengthen and advance the Islamic finance sector in the Maldives.

The Tamweel initiative aims to develop long-term capacity in the industry by supporting education, awareness, and specialist training programmes. Through a focus on financial literacy, awareness, and capacity building, the scheme is expected to help transform the Maldives into a regional hub for Islamic finance.

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Under the initiative, scholarships are being offered for programmes at Malaysia’s International Centre for Education in Islamic Finance (INCEIF) and Universiti Islam Selangor (UIS). These opportunities are open exclusively to Maldivian nationals.

The available programmes include the Executive Masters in Islamic Finance (eMIF) by INCEIF University, with five fully funded and five partially funded scholarships on offer. In addition, five scholarships are available for a micro-certification from eMIF, while twenty scholarships are open for the Certificate in Shariah Economics for Banking and Finance (CSEBF) by UIS Malaysia.

According to MMA, applicants must meet eligibility criteria detailed on its website, and each person may apply for only one full-time scholarship programme. The selection process will consider both merit and financial need, with an additional evaluation that includes an assessment of financial circumstances and social background.

Applications must be submitted through the links available on the MMA website before midnight on 17 July.