The Maldives Monetary Authority (MMA) has unveiled the Tamweel Impact Pitch Challenge, a new competition designed to generate innovative, values-driven solutions to strengthen financial literacy, financial inclusion, and Islamic finance in the country.
Launched on 1 August, the initiative seeks to bring together visionary thinkers, researchers, and changemakers to pitch bold ideas that combine finance, technology, and Shariah principles to address pressing financial challenges in the Maldives. The competition will run until 15 November, when winners will be announced at a special award ceremony.
The event is divided into two tracks:
-
Pioneering Islamic Finance Solutions – encouraging practical, Shariah-aligned financial innovations.
-
Policy and Research for Inclusive Islamic Finance – focusing on proposals that address systemic challenges through policy and research.
Both categories are open to individuals and teams of up to three members, aged 18 and above, from anywhere in the world. However, employees of MMA and its partner organisations are not eligible to participate. Proposals must remain relevant to the Maldivian context while contributing to the wider advancement of Islamic finance.
For the first track, winners will receive up to USD 1,945 in cash prizes, with the possibility of seed funding, pilot grants, mentorship, and collaboration opportunities to help bring winning ideas to life.
For the second track, participants will be competing for a total of USD 6,485 in potential funding. Similar to Track 1, additional benefits such as capacity-building, mentorship, and institutional collaboration may be extended to top submissions.
Deadline for Applications
Applicants must complete and submit the official Application Form by 11:59 p.m. Maldivian time (GMT+5) on 31 August.
MMA says the Tamweel Impact Pitch Challenge reflects its broader commitment to fostering innovation, building resilience in the financial system, and ensuring that Islamic finance remains both accessible and inclusive for the Maldivian public.
