MMA

Discussions of digital currency creation ongoing: MMA

May 30, 2023, 12:24

Maldives Monetary Authority’s Deputy Governor Ahmed Imad has said that 94 percent of the currency used in Maldives can be used digitally and discussions are underway at various levels to… Continued

Official reserves exceed USD800 million

January 11, 2023, 06:18

Malé, Maldives - Maldives Monetary Authority has revealed that the government's official reserves increased to USD 827.7 million at the end of last year. Official reserves stood at USD 604.2… Continued

MMA signs USD200 million Currency Swap Agreement with India

December 8, 2022, 20:17

Maldives Monetary Authority has signed a USD 200 million Currency Swap Agreement with the Reserve Bank of India under the SAARC Currency Swap Framework. This swap facility will allow the… Continued

Money deposited in banks decrease by 10pc

December 4, 2022, 09:40

Malé, Maldives - Maldives Monetary Authority’s statistics has shown that bank deposits declined by 10 percent in the third quarter of this year. According to the Monetary Authority of Maldives… Continued

MMA issues new banknotes with Maldivian Rufiyaa symbol

November 14, 2022, 09:40

Malé, Maldives - Central bank of Maldives, Maldives Monetary Authority has issued the new MVR 50 notes with the Maldivian rufiyaa symbol printed on both sides of the banknote. The… Continued

Budget 2023: SDF will have accumulated $500 million by 2025

November 4, 2022, 09:11

Malé, Maldives - Government of Maldives has revealed that the Sovereign Development Fund (SDF) is expected to have USD 500 million by the end of 2025. The Finance Ministry's budget… Continued

MMA reprints MVR 50 notes due to shortage

September 26, 2022, 16:31

Malé, Maldives - The stock of Maldivian Rufiyaa 50 note that is currently in circulation in the Maldivian economy is low, revealed the Maldives Monetary Authority (MMA). Due to this,… Continued

Former President Yameen to sue Bank of Maldives

September 3, 2022, 13:02

Malé, Maldives - Former President Abdulla Yameen Abdul Gayoom has announced that he will take legal action against Bank of Maldives to get USD 1 million withheld in an escrow… Continued

MMA lifts Western Union suspension

August 19, 2022, 13:23

Malé, Maldives - Ten days after Maldives Monetary Authority (MMA) suspended the Payment Service Providers License (No. PSP/2022/03) issued to Island Financial Services Pvt. Ltd. for the provision of Remittance… Continued

MMA suspends license halting Western Union services

August 13, 2022, 11:44

Malé, Maldives - Maldives Monetary Authority has suspended the Payment Service Providers License (No. PSP/2022/03) issued to Island Financial Services Pvt. Ltd. for the provision of Remittance Service in the… Continued