The Maldives Monetary Authority (MMA) has announced the launch of the Tamweel Impact Pitch Challenge, a new competition aimed at inspiring innovative, values-driven solutions to enhance financial literacy, inclusion, and the development of Islamic finance in the Maldives.
Launched on 1 August, the initiative invites visionary individuals, researchers, and changemakers to present bold ideas that blend finance, technology, and Shariah principles to tackle key financial issues facing the country. The challenge will run until 15 November, concluding with a special award ceremony where winners will be announced.
The competition is structured around two key tracks:
- Pioneering Islamic Finance Solutions – Focused on practical, Shariah-compliant financial innovations.
- Policy and Research for Inclusive Islamic Finance – Aimed at addressing systemic financial challenges through informed policy and research.
Both tracks are open to individuals and teams of up to three people, aged 18 and above, from any country. However, employees of MMA and its partner organizations are not eligible. All proposals must be relevant to the Maldivian context while contributing to the global advancement of Islamic finance.
In the first track, participants can win up to USD 1,945 in cash prizes, along with potential opportunities for seed funding, pilot grants, mentorship, and collaboration to help bring their concepts to life.
In the second track, a total of USD 6,485 is available in funding, with top entries also eligible for capacity-building support, expert mentorship, and possible partnerships with institutions.
Application Deadline:
Interested applicants must submit the official application form by 11:59 p.m. Maldivian time (GMT+5) on 31 August.
The MMA states that this initiative is part of its broader mission to foster innovation, build financial system resilience, and ensure Islamic finance remains inclusive and accessible for all Maldivians.
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