Financial Institutions

Locals appointed to head all financial institutions in country

  • MMA passed the decision in June 2016
  • Implemented in June 2017
  • Decision passed to give more opportunities to locals

Rushdha Rasheed
rushdhar

K. Male' 2017 Sep 06 | Wed 19:53 1,130 business

Maldives Monetary Authority (MMA) - google

Maldives Monetary Authority (MMA) has revealed that all heads of financial institutions in the Maldives are now locals.

MMA media official Mansoor Zubair said that the Authority took the decision back in June 2016, so that the senior most official or the second most senior official of any financial institution was a Maldivian. Mansoor said they had given all authorities a one-year period to implement this.

He added that all institutions had complied by the request.

When questioned about the decision, Mansoor said they had done so to allow more Maldivians to progress in the sector. He added that the appointees to the positions were fully qualified.

Last updated at: 3 weeks ago | Reviewed by: Husham Mohamed

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