Maldives Monetary Authority

Parliament gives green light for National Payment System

April 27, 2021, 19:49

Malé, Maldives - Parliament of Maldives has passed to allow a national payment system to be established in the country. The bill which was sponsored by Dhihdhoo constituency parliamentarian, Abdulla… Continued

Real GDP projected to grow by 13.5% in 2021

March 30, 2021, 18:35

Malé, Maldives - Maldives Monetary Authority (MMA) has stated that the real Gross Domestic Product is projected to grow by 13.5 percent in 2021. This comes while Finance Minister, Ibrahim… Continued

Transactions can be be only in MVR with instant payment system: MMA Governor

March 17, 2021, 10:16

Malé, Maldives - Governor of Maldives Monetary Authority (MMA), Ali Hashim has said that all transactions done within Maldives will be made in Maldivian Rufiya (MVR) after the central banks… Continued

All domestic transactions to be made in MVR

March 14, 2021, 18:14

Malé, Maldives - Maldives Monetary Authority (MMA) has issued a notice to all banks operating in Maldives to stop card transactions made in USD within the country. In the memo… Continued

USD 92.9 million remitted out of Maldives in 2020

February 26, 2021, 22:14

Malé, Maldives – Maldives Monetary Authority has revealed that a total of USD 92.9 million (MVR 1.43 billion) was sent out of Maldives as outward remittance. The Maldives Monetary Authority's… Continued

Lowest deflation rate recorded in June 2020

February 8, 2021, 10:48

Malé, Maldives - Maldives Monetary Authority (MMA) has reported that the Maldivian economy saw the lowest deflation in June 2020. In 2020, Maldives faced an economic downturn amidst the Covid-19… Continued

Maldives GDP dropped to -29.3% in 2020 – lowest in recent history

February 7, 2021, 21:02

Malé, Maldives - Maldives Monetary Authority (MMA) has reported that the Real GDP growth rate, i.e the nominal GDP adjusted for inflation, fell to -29.3 percent in 2020. According to… Continued

Total exports drop by 45% in November: MMA

January 6, 2021, 16:36

Male', Maldives - Total exports in November 2020 have declined by 45 percent when compared with November 2019, according to the December 2020 Economic Update published by the Maldives Monetary… Continued

MMA invites proposals for consultation on Payment System

January 6, 2021, 15:24

Male', Maldives - Maldives Monetary Authority (MMA) has invited for proposals from individuals or parties interesting in being a Technical Consultant for the Maldives Payment System Development Project. MMA stated… Continued

Largest contributors to annual inflation are Information & Communication sector and housing rent: MMA

October 29, 2020, 09:00

Male' Maldives - Maldives Monetary Authority has stated that the largest contributors to the annual inflation rate were information and communication sector, housing rent, tobacco and vegetables. According to the… Continued