Maldives International Financial Services Authority (MIFSA) has unveiled its official logo on Sunday.

Minister of Economic Development and Trade Mohamed Saeed unveiled the logo via X.

In his post, the minister said the company's operational aspects, including strategies and operational frameworks were currently under expedited development.

Earlier on Tuesday last week, former Vice President Abdulla Jihad was appointed as the Chairman of the newly introduced institution.

The institution, falling under the Ministry of Economic Development and Trade's mandate, was instituted in accordance with the authority conferred upon the Maldives President by Article 116 of the Constitution.

MIFSA was established to develop a legal framework for the provision of onshore financing services in addition to offshore financing services mentioned in the Special Economic Zones Act. 

The institution would enable the formation of offshore and onshore development banks and international financial centers, and conduct research to seek modern solutions for the legal and administrative challenges of establishing a competitive system to develop financial markets.