A digest of news and opinion from the Maldives.
The new members appointed to MMA’s Board of Directors (L-R): Ihsan, Idhuham and Janah. Former director of Maldives Association of Construction Industries (MACI) Mohamed Ali Janah and former captain of Maldives National Defence Force (MNDF) Ali Ihusan were appointed as board members of Maldives Monetary Authority (MMA) on Sunday. Ali Ihusan had been filling the post […]
Maldives Monetary Authority (MMA) announced that they will be conducting a survey on the payment system in Maldives. The survey will aim to identify the problems that arise during payment transactions and to find the best ways to decrease the use of physical money in order to facilitate even easier transactions. According to a press release by […]
Ongoing construction of Dharumavantha Hospital, the new 25-storey state hospital being developed in Male. Maldives Monetary Authority (MMA) revealed that US Dollar reserves dropped in the third quarter of this year after the central bank settled payments for the development of the new state hospital in capital Male. According to the central’s bank economic bulletin […]
The Maldives’ foreign currency reserve declined during the third quarter of 2017 due to loan repayments and expenditure related to the development of a new hospital in Malé. Usable reserves amounted to US$191 million during the quarter, enough for about a month of imports, according to a quarterly economic bulletin released by the Maldives Monetary […]
An employee of BML pictured counting US Dollars. Following a drop in US Dollar revenue, the usable reserve of the state treasury declined to USD 179 million by the end of October. According to Maldives Monetary Authority (MMA)’s economic review, the central bank’s usable reserve stood at MVR 179.8 million by October end, which is a […]
The original Dhivehi article was published on Avas.mv website on 21st November 2017. The following is a loose translation: GST Threshold to be eliminated Revision to BPT law Measures are to augment revenue To increase revenue, the government has included necessary revisions to the tax system in the next year’s budget. The Financial Minister Ahmed […]
Maldives Monetary Authority (MMA) in capital Male. Inflation rates spiked by 4.2 percent during the second quarter, revealed the Maldives’ central bank on Tuesday. According to a report released by Maldives Monetary Authority (MMA), inflation has increased from the final quarter of 2016 to the second quarter of this year. MMA attributed this spike in […]
The original Dhivehi article was published on Mihaaru.com website on 12th September 2017. The following is a loose translation: We can still remember in 2014, when people were queueing up next to the Ministry of Housing and Infrastructure, sacrificing their sleep. Some even lined up at midnight of the day before, to submit their application […]
Maldives Monetary Authority (MMA) in capital Male. The Maldives’ central bank has confirmed that locals have been appointed to the senior posts of all financial institutions, including banks and insurance companies, in the Maldives. Maldives Monetary Authority (MMA) mandated last year June that all financial institutions must have Maldivians in top positions such as CEO […]