The Maldives Pension Administration Office (Pension Office) was established under the Maldives Pension Act (Act No: 8/2009) and is responsible for administering the Maldives Retirement Pension Scheme (MRPS) and other pension schemes under the Act.

The Sixth Amendment to the Pension Act ratified on 21 May 2026 provides the regulatory basis for the Pension Office to address the treatment of accrued gains when members transfer from the conventional funds to Shariah compliant funds, including the development of an appropriate purification mechanism in accordance with applicable Shariah principles.

In this regard, the Pension Office invites qualified individuals licensed in Shariah Advisory Services to conduct a shariah assessment of the Shariah Fund and Shariah Conservative Fund, evaluate its governance mechanisms, develop a robust governance framework for the funds, and develop an appropriate regulatory framework for the treatment of non-shariah compliant accrued gains upon transfers from conventional funds in accordance with applicable Shariah principles.

Interested individuals are requested to submit Financial proposals and Proposed Work Plan with the necessary documents separately via email to [email protected] before14:00 hours on 1 November 2026 (Sunday).

The Request for Proposal document is uploaded to the Gazette with this announcement.