Maldives Launches Tax-Free $9B Blockchain Hub for Investment
The post Maldives Launches Tax-Free $9B Blockchain Hub for Investment appeared on BitcoinEthereumNews.com. MBS Global Investments has officially launched a $9 billion investment plan with the Maldives to establish a blockchain-powered financial hub. This project places it as a potential competitor to established financial hubs like Dubai, Abu Dhabi, and Mauritius. The Maldives government has teamed up with Dubai-based MBS Global Investments in an $8.8 billion joint venture to bring a bold vision to life: the creation of the Maldives International Financial Centre (MIFC) in central Malé by 2030, with hopes of turning the island nation into a global hotspot for blockchain and digital finance. On May 4, the two entities signed the agreement under the leadership of President Mohamed Muizzu, which includes both a formal joint venture deal and a Memorandum of Understanding (MoU). The MIFC will be developed over a five-year timeline and will be financed through a combination of equity and debt. MBS Global has already secured between $4 billion and $5 billion in funding commitments. Being that the Maldives is an independent island country in the north-central Indian Ocean, it is a tourism-dependent economy, and this initiative represents a critical shift in strategy. With major loan repayments of $600–700 million due in 2025 and nearly $1 billion in 2026, the country is under pressure to diversify and stabilize its economic foundation. “This financial centre will set a new global benchmark and advance financial innovation by at least two decades,” said Nadeem Hussain, CEO of MBS Global Investments, in the official press release. “It is the next evolution of what we’ve seen emerging in financial hubs around the world.” More Than Just a Financial District But the MIFC is envisioned as much more than a business zone. The development will span 780,000 square meters, housing over 6,500 residents and welcoming up to 35,000 visitors daily. It will feature iconic architectural…
The post Maldives Launches Tax-Free $9B Blockchain Hub for Investment appeared on BitcoinEthereumNews.com.
MBS Global Investments has officially launched a $9 billion investment plan with the Maldives to establish a blockchain-powered financial hub. This project places it as a potential competitor to established financial hubs like Dubai, Abu Dhabi, and Mauritius. The Maldives government has teamed up with Dubai-based MBS Global Investments in an $8.8 billion joint venture to bring a bold vision to life: the creation of the Maldives International Financial Centre (MIFC) in central Malé by 2030, with hopes of turning the island nation into a global hotspot for blockchain and digital finance. On May 4, the two entities signed the agreement under the leadership of President Mohamed Muizzu, which includes both a formal joint venture deal and a Memorandum of Understanding (MoU). The MIFC will be developed over a five-year timeline and will be financed through a combination of equity and debt. MBS Global has already secured between $4 billion and $5 billion in funding commitments. Being that the Maldives is an independent island country in the north-central Indian Ocean, it is a tourism-dependent economy, and this initiative represents a critical shift in strategy. With major loan repayments of $600–700 million due in 2025 and nearly $1 billion in 2026, the country is under pressure to diversify and stabilize its economic foundation. “This financial centre will set a new global benchmark and advance financial innovation by at least two decades,” said Nadeem Hussain, CEO of MBS Global Investments, in the official press release. “It is the next evolution of what we’ve seen emerging in financial hubs around the world.” More Than Just a Financial District But the MIFC is envisioned as much more than a business zone. The development will span 780,000 square meters, housing over 6,500 residents and welcoming up to 35,000 visitors daily. It will feature iconic architectural…
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