Maldives Monetary Authority

By: EconomyWatch   Date: 8 September 2010

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The Maldives Monetary Authority (MMA) is the central bank of the Republic of Maldives. The Monetary Authority was founded in the year 1981 on the basis of Maldives Monetary Authority Act 1981.

Since then the bank has been operating with an objective of enabling the domestic economic environment for attaining the sustainable economic growth.

Important functions of the Maldives Monetary Authority are as follows:

  • Issuance of Currency
  • Regulation of Country's financial market
  • Implementation of Monetary policy
  • Advising the Government in the matters relating to business and economy
  • Maintaining a balanced economic growth in Maldives

With regards to the structure, there is a Board of Directors as the highest policy making body of the Maldives Monetary Authority. The Minster of Finance & Treasury is the ex-officio Governor of the board.

From the administration point of view the Maldives Monetary Authority has following divisions:

  • Operations Division
  • The Economic Research and Statistics Division,
  • The Capital Market Division
  • General Division.

 

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