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The secretary-general of the Islamic Chamber of Commerce and Development (ICCD), Sheikh Yousef Hassan Khalawi, paid a courtesy call on Maldivian President Mohamed Muizzu on September 2 at the President’s Office.
Discussions focused on advancing the Islamic economy through capacity building, investment and cooperation in the hospitality and halal business sectors, including the expansion of halal tourism.
The meeting came as the Maldives seeks to capitalize on its established position as a global tourism destination while developing new areas of economic growth. Muslim-friendly travel spending worldwide reached $249 billion in 2024 and is projected to rise to $424 billion by 2029, according to the State of the Global Islamic Economy 2025/26 Report.
The Maldives has already taken steps to secure a larger share of the growing market. In June 2025, Muizzu announced plans to designate islands exclusively for halal tourism and introduce incentives for investors, with the goal of establishing the country as a global leader in the sector.
In his 2026 Presidential Address, Muizzu said six underdeveloped tourism atolls had been opened to investment. Eight locations had been awarded, six lease agreements had been signed and one island designated for halal tourism had already been leased.
The meeting also examined opportunities in Islamic finance and investment. With support from the Islamic Development Bank, the Maldives is developing a national master plan and roadmap for Islamic economics and finance.
Muizzu and Khalawi also discussed ways to connect Maldivian businesses with investors and commercial partners through the ICCD’s network across 57 member countries of the Organization of Islamic Cooperation.
