President Dr. Mohamed Muizzu has engaged in discussions regarding the growth of the Islamic financial sector, with the President of the Islamic Development Bank (IsDB), Dr. Muhammad Al Jasser.

The discussions were held during a courtesy call paid by the IsDB president on the Maldivian leader in the United Arab Emirates (UAE) on Saturday.

The meeting was held on the sidelines of the 28th Session of the Conference of the Parties to the United Nations Framework Convention on Climate Change (COP28).

Discussions at the meeting revolved around close collaboration on mutually beneficial areas, specifically on the growth of the Islamic financial sector, the construction of a Zakat House, a Waqf program as well as the establishment of a Microfinance Bank.

The Maldivian leader went on to shed light on the renewable energy target announced during his speech at COP28.

Further, he stressed the significance of adaptation projects and infrastructure development to increase climate resilience.

President Muizzu and the president of IsDB expressed their mutual interest to solidify the partnership between the Maldives and the Islamic Development Bank in the future, as well as to further enhance and facilitate existing ties.