Maldives Monetary Authority

Central bank of Maldives

Maldives Monetary Authority

Headquarters	Malé
Established	July 1, 1981 (1981-July-01)
Ownership	100% state ownership^[1]
Governor	Ahmed Munawar^[2]
Central bank of	Maldives
Currency	Maldivian rufiyaa MVR (ISO 4217)
Reserves	509 million USD^[3]
Website	mma.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

Maumoon Abdul Gayoom, July 1981 - August 2004^[9]
Mohamed Jaleel, September 2004 - July 2005^[9]
Qasim Ibrahim, August 2005 - April 2007^[9]
Abdulla Jihad, August 2007 - July 2008^[9]
Fazeel Najeeb, October 2008 - December 2013^[9]
Azeema Adam, April 2014 - August 2017^[9]
Ahmed Naseer, August 2017 - July 2019^[9]
Ali Hashim, 2019 - July 2024^[9]

References

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