MMA Raises Capital Requirements for Payment Services
The Maldives Monetary Authority has increased capital requirements for payment service providers to bolster financial stability and public trust.
Naid Investment Accounts Frozen Over Illegal Dollar Trading
Maldives Police freeze Naid Investment accounts and raid their office over allegations of operating an unlicensed foreign currency exchange business.
Maldives Passes Law to Curb Black Market Forex Trade
The People’s Majlis has approved amendments to the Foreign Currency Act, imposing heavy fines on illegal dollar trading and advertising.
MMA Names Resorts Failing Foreign Currency Exchange Rules
The Maldives Monetary Authority has publicly named resorts failing to comply with mandatory foreign currency exchange regulations under the 2024 Act.
MMA Revokes License of Hamid Ismail’s Family Firm
The MMA has revoked the money-changing license of Express Money Exchange Pvt Ltd for regulatory violations, citing links to businessman Hamid Ismail.
Maldives Import Costs Surge 28.8% as Fuel Prices Spike
Maldives import expenditure rose to MVR 2.2 billion in H1 2026, driven by an 87.6% surge in petroleum costs and global market instability.
MMA Revokes Express Money Exchange License
The Maldives Monetary Authority has revoked the license of Express Money Exchange Private Limited due to regulatory violations found during supervision.
BML Boosts US Dollar Sales for Overseas Transfers
Bank of Maldives increases US Dollar sales for Telegraphic Transfers for three weeks following a boost in currency support from the central bank.
