The Maldives International Financial Services Authority (MIFSA) has appointed Datuk Iskandar Mohd Nuli as its new Chief Executive Officer. MIFSA is the government body responsible for regulating and supporting the development of the Maldives International Financial Centre (MIFC).

Datuk Iskandar brings over 30 years of experience in the financial services sector, including extensive work in regulatory and supervisory roles. He began his career at Bank Negara Malaysia in 1990 and later joined the Labuan Financial Services Authority (Labuan FSA) in 1996 as part of its pioneer team. He went on to hold several senior positions, eventually becoming Deputy Director General. From 2020 to 2025, he served as Executive Chairman of Labuan IBFC Inc.

Throughout his career, Datuk Iskandar has played a key role in major legislative and regulatory reforms. He drafted the Labuan Financial Services Authority Act 1996 and led a comprehensive modernisation of Labuan’s legal framework between 2008 and 2010, which included creating the first codified Islamic finance legislation in the offshore sector. He also contributed to Malaysia’s national efforts against financial crime as a founding member of key anti-money laundering committees.

A trained lawyer, Datuk Iskandar holds a Bachelor of Laws, an MBA, and a Doctorate in Management. He is also a Certified Financial Investigator and a qualified Syariah lawyer in Sarawak.

MIFSA said the appointment will strengthen efforts to build the Maldives International Financial Centre. An official from the board stated that Datuk Iskandar’s experience in developing international financial centres and his strong regulatory background will be vital in achieving the government’s vision.

Datuk Iskandar said he is honoured to take on the role and highlighted the Maldives’ ambition to develop a sustainable, next-generation financial hub capable of attracting global investment.

The Maldives International Financial Centre is a major joint venture between the Government of Maldives and MBS Global Investments, representing an US$8.8 billion plan to diversify the economy beyond tourism. Designed as a fully sustainable financial free zone, the MIFC aims to attract global financial institutions, fintech companies, and digital professionals. The project includes mixed-use towers, hotels, residences, retail areas, an Oceanographic Museum, a mosque, and an international school. It is expected to be completed by 2030 and generate more than US$1 billion in annual revenue within five years of operation.