DUBAI, UAE – The Maldives International Financial Services Authority (MIFSA), the government authority mandated to regulate and support the development of the Maldives International Financial Centre (MIFC), today announced the appointment of Datuk Iskandar Mohd Nuli as its Chief Executive Officer. Datuk Iskandar brings over 30 years of extensive experience in the domestic and offshore financial services industry, particularly within regulatory and supervisory agencies.

Datuk Iskandar began his career at Bank Negara Malaysia in 1990 before becoming a pioneer staff member at the Labuan Financial Services Authority (Labuan FSA) in 1996. He went on to serve in senior roles including Director, Senior Director, and ultimately Deputy Director General, where he oversaw the day-to-day administration of Labuan FSA and supervised its core departments, including legal, supervision, policy, and human resources. From January 2020 to January 2025, he was seconded as Executive Chairman of Labuan IBFC Inc. Sdn. Bhd.

His career has also been marked by significant legislative and regulatory achievements. He drafted the Labuan Financial Services Authority Act 1996, establishing Labuan FSA as a centralised government agency, and led a major review and modernisation of Labuan IBFC’s legal framework between 2008 and 2010. This included formulating the first codified Islamic legislation in the offshore world. He also served as a founding member of the Executive Committee of Malaysia’s National Anti-Financial Crime Centre (NFCC) and the National Coordinating Committee on Anti-Money Laundering (NCC).

A qualified lawyer, Datuk Iskandar holds a Bachelor of Laws (Hons.) from the International Islamic University, a Master of Business Administration, and a Doctorate in Management. He is also a Certified Financial Investigator and a qualified Syariah lawyer in Sarawak, Malaysia.

“We are delighted to welcome Datuk Iskandar to lead MIFSA,” said an Official of MIFSA board. “His proven expertise in building an international financial centre from the ground up, coupled with his deep background in regulation and international standards, will be instrumental in realising the Government of Maldives’ vision for the Maldives International Financial Centre.”

Datuk Iskandar commented: “I am honoured to take on this role and excited by the vision for the Maldives International Financial Centre. The Government of Maldives’ commitment to developing a next-generation, sustainable financial hub provides a unique opportunity to attract global investment and position the Maldives as a competitive player in international finance.”

Launched earlier this year as a landmark joint venture between the Government of Maldives and MBS Global Investments, the Maldives International Financial Centre (MIFC) represents a transformative US$8.8 billion commitment to diversify the nation’s economy beyond tourism. Conceived as a wholly sustainable Financial Freezone, MIFC is designed to attract global

financial institutions, fintech pioneers, entrepreneurs, and digital professionals. With future- ready regulations, renewable energy infrastructure, and a visionary live-work-play environment, MIFC is set to position Malé as the premier global business and financial hub in the Indian Ocean.

About Maldives International Financial Services Authority (MIFSA)

The Maldives International Financial Services Authority (MIFSA) is a government authority mandated to regulate, promote, and support the development of the Maldives International Financial Centre (MIFC). MIFSA is responsible for establishing a robust regulatory framework, ensuring adherence to international standards, and facilitating the growth of the MIFC as a trusted and competitive jurisdiction for global finance.

About Maldives International Financial Centre (MIFC)

The Maldives International Financial Centre (MIFC) is a government-led initiative, launched in partnership with MBS Global Investments. Designed as a wholly sustainable financial free zone, the MIFC seeks to diversify the Maldivian economy beyond tourism by attracting global financial institutions, fintech innovators, and digital professionals.

The 780,000 sqm development in Malé will feature a state-of-the-art conference centre, three iconic mixed-use towers, international hotels, branded residences, retail spaces, an Oceanographic Museum, a Mosque, and an International School. Built with sustainability at its core, the MIFC will be fully powered by renewable energy and designed as a pedestrian- friendly, car-free environment. The project is scheduled for completion by 2030, with the aim of generating more than US$1 billion in annual revenues by its fifth year of operation.

About MBS Global Investments

MBS Global Investments is a multi-family office (MFO) built around four business pillars, focused on creating long-term value through innovation and strategic partnerships. The firm provides UHNW wealth management and advisory services, alongside direct and co- investments in sectors such as real estate, technology, and hospitality. It also raises capital, manages private equity ventures, and develops joint ventures that unlock B2G2B opportunities worldwide. With a global outlook and deep expertise, MBS Global Investments is committed to driving growth for its partners and delivering sustainable impact for future generations.