Maldives Monetary Authority (MMA)

191 articles

Latest

Businesses face losses as TTs through BML take weeks to process

Maldivian businesses are facing severe financial losses due to 15-20 day delays in processing Telegraphic Transfers through the Bank of Maldives. Despite government claims of support, a critical dollar shortage is forcing traders to use the black market, hindering the import of essential goods and damaging the local economy.

1 month ago

Business

Changes brought to Payment Services Regulation

The MMA has updated the Payment Services Regulation, requiring transaction funds to be credited to bank accounts within two working days. The amendments also raise minimum capital requirements for service providers to MVR 1 million or MVR 2 million to ensure financial resilience and maintain public confidence in the financial system.

1 month ago

News

Latest

Businesses face losses as TTs through BML take weeks to process

Changes brought to Payment Services Regulation

Muizzu’s promise of USD 1000 traveller allowance remains unmet

Adhadhu removes USD tracker due to restrictive law

Police appeal for public help in stopping USD black market

Police seize mobile phone of Furaveri resort shareholder

Police raid Furaveri resort operator after freezing accounts

"TTs and card transactions failing despite increased limits"

Calls for Muizzu’s resignation as dollar crisis worsens

MMA mops up MVR 3 billion to reduce surplus liquidity

Ex-Finance Minister blames wasteful spending for USD crisis

Expat workers mandated to deposit salaries into bank account

Efforts to curb use of fraudulent TTs amid USD crisis

Exchanging 40 percent of earnings is not feasible: MATI

"No reason for USD rate to have surged to current levels"

MMA moves to ban USD salaries

President's Office "intimidates" MATI board members

"USD issue cannot be resolved by silencing the public"

Former official warns USD could hit MVR 30

"Hiding true USD value will not generate foreign currency"