Independent presidential candidate Faris Maumoon has pledged to transition the Maldives into a digital financial hub within five years. This commitment was revealed while discussing his presidential promises.
Speaking about his policies, Faris emphasised the importance of evolving the country into a cashless system as a fundamental step towards establishing a digital economy. He advocated for the digitisation of state registries and registers, stressing the need for a comprehensive information storage system. By embracing a digital economy, the Maldives aims to enhance transactional efficiency, lower operational costs for local businesses, and ultimately benefit its citizens, he added.
Addressing the transformation into a digital economy, Faris acknowledged that challenges would inevitably arise. He assured that he would diligently work to implement a user-friendly and suitable digital infrastructure, despite the hurdles. He further noted his administration's intention to designate a specific area within the Maldives as a Finance Center under the Special Economic Zones Act.
Additionally, Faris underlined his commitment to introducing legal amendments necessary for the digitalisation of the Maldives.