Maldives President thanks Malaysia for $100 million currency swap and trade talks

During a post on X, Maldives President Mohamed Muizzu expressed gratitude to Malaysia for its decision to consider extending a US$100 million currency swap facility and for agreeing in principle to start talks on a Preferential Trade Agreement following Prime Minister Datuk Seri Anwar Ibrahim’s state visit. Anwar, also Malaysia’s finance minister, described the swap as a soft-loan arrangement whose terms are being finalized by Bank Negara Malaysia and the Maldives Monetary Authority.

Muizzu said the visit opened a new chapter in the long-standing friendship between the two nations, laying groundwork for expanded cooperation in trade, investment, education, health, tourism, sustainable development, Islamic affairs and defence. Both countries also agreed to coordinate more closely in multilateral forums such as the United Nations, the Organisation of Islamic Cooperation and the Commonwealth. The Maldives, a major recipient of the Malaysian Technical Cooperation Programme, hopes to attract Malaysian investors in renewable energy, digital infrastructure, construction, Islamic finance and halal businesses.