As per the latest Islamic Finance Development Report published by Thomson Reuters on Islamic financing development in the world, Maldives was ranked in the top three, alongside Oman and Palestine.
In addition, Maldives is ranked 12th in the list of leading Islamic finance based countries in the world. The list is topped by developed countries such as Malaysia, Bahrain and Saudi Arabia. While Maldives is ranked 4th in the sub category of Islamic Financial Institutes, it is ranked 8th in the list of counties which attained the biggest development in the education sector, in this field.
Furthermore, Maldives is ranked 10th in the list of countries with the best financial governance and ranked 8th in cooperate governance. In addition, Maldives is also ranked 9th in Corporate Social Responsibility (CSR) activities and the Financial Resolution and Deposit Insurance (FRDI) score of Maldives reached 41.3 points by ranking in the 7th position.
Islamic Finance Development Report is published annually by collaborating with Thomson Reuters and ICD. Maldives was recognised among the top 15 developed nations in the Islamic finance industry in 2016.