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Tag "Maldives Monetary Authority (MMA)"

Foreign debt warning from Maldives central bank boss

The IMF and the World Bank predicts Maldivian debt to reach 121 percent of GDP by 2020.

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Social media activist under arrest for ‘inciting fear and sowing discord’

Thayyib Shaheem, a prominent opposition social media activist, is under arrest on suspicion of sowing discord among the public with false information on social media and inciting fear and panic about the H1N1 swine flu virus.

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Maldives secured US$100m from India to shore up depleted reserve

The agreement with the Reserve Bank of India was the Maldives’ first currency swap deal.

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Tourism lobby scuttled rules banning resorts from selling dollars

The rules were aimed at alleviating a persisting dollar shortage and tackling an entrenched black market.

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National bank to set up airport kiosk for dollar sales

From January 8 onward, travellers can buy up to US$500 dollars per ticket through an online portal or at any BML branch. But the dollars must be collected from a dedicated area at the Velana International Airport after checking in at the departure terminal.

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Central bank defends bailing out government with GMR payout

The MMA confirmed to the Maldives Independent that it invested in a US$140 million government-guaranteed bond issued by the Maldives Airports Company Ltd on November 15, two days before the attorney general announced the payment of US$271 million in damages to the Indian infrastructure firm.

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Foreign currency reserves decline amid dollar shortage

Reserves at the Maldives Monetary Authority readily available for use in the foreign currency exchange market declined by US$1.5 million in July as the central bank took steps to alleviate a dollar shortage.

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President ‘halted’ central bank inquiry into money laundering

The opposition has renewed calls for Yameen’s arrest, claiming it has new evidence he instructed the central bank to halt an inquiry into the Maldives’ biggest ever corruption scandal.

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Maldives introduces new banknotes

The new Maldivian rufiyaa note series unveiled last night “represents the Maldives, and the identity of Maldivians” and “attempts to encapsulate all the innate factors that define our country, and our ancestral identity,” the central bank said.

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