Maldives Monetary Authority

Maldives Monetary Authority
HeadquartersMalé
EstablishedJuly 1, 1981 (1981-July-01)
Ownership100% state ownership[1]
GovernorAhmed Munawar[2]
Central bank ofMaldives
CurrencyMaldivian rufiyaa
MVR (ISO 4217)
Reserves509 million USD[3]
Websitemma.gov.mv

The Maldives Monetary Authority (MMA) is the central bank of the republic of Maldives and was established on July 1, 1981, under the mandate provided by the "“Maldives Monetary Authority Act 1981" located in the capital city of Malé. The current governor is Ahmed Munawar and deputy governor is Ahmed Imad.[4] It is a member of the Asian Clearing Union.[5]

In April 2007, the MMA Act was amended to provide complete autonomy and independence of the MMA.[6]

Its primary functions are to issue currency, regulate the availability of Maldivian rufiyaa (MVR), promote its stability, manage licenses, supervise and regulate institutions in the financial sector, formulate and implement monetary policy and to advise the government on issues relating to the economy and financial systems.[7]

The MMA is a member of the Alliance for Financial Inclusion and is active in developing financial inclusion policy.[8]

Governors

See also

References

  1. ^ Weidner, Jan (2017). "The Organisation and Structure of Central Banks" (PDF). Katalog der Deutschen Nationalbibliothek.
  2. ^ "The President appoints Ahmed Munawar as the Governor of the Maldives Monetary Authority". The President's Office. 31 July 2024. Retrieved August 3, 2024.
  3. ^ "Maldives' usable reserve declines in June". Avas. August 1, 2024. Retrieved August 3, 2024.
  4. ^ "Board of Directors". Maldives Monetary Authority. Retrieved August 3, 2024.
  5. ^ "Maldives Monetary Authority". Asian Clearing Union. Retrieved August 3, 2024.
  6. ^ "History of MMA". Maldives Monetary Authority. Retrieved August 3, 2024.
  7. ^ "Functions". Maldives Monetary Authority. Retrieved August 3, 2024.
  8. ^ "Maldives Monetary Authority". Alliance for Financial Inclusion. Retrieved August 3, 2024.
  9. ^ a b c d e f g h "Past Governors and Vice Governors". Maldives Monetary Authority. Retrieved August 3, 2024.


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