MMA to Amend Foreign Currency Exchange Policies to Combat Dollar Black Market

Maldives Monetary Authority (MMA) has stated that the authority is working to amend the foreign currency exchange policies in Maldives to help resolve the issue of the dollar black market.

In a press conference held yesterday, Deputy Governor of MMA Ahmed Imad stated that major changes are being brought to the regulatory framework on the foreign exchange market, after consultation with foreign parties as well.

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Imad also added that starting this week, discussions will be held with local businesses regarding these measures and how it would impact them.

 Imad noted that the changes will be communicated with the general public as well.

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