98 parties requested for money exchange license

1 day ago

The Maldives Monetary Authority (MMA) has reported that a total of 98 parties have submitted for money exchange license under the newly enacted Foreign Exchange Regulation, while 163 of the previously issued licenses have been cancelled. Under the “Foreign Exchange Regulation” two tiers of licenses are issued, which include ‘Tier 1’ and ‘Tier 2’ money exchanging licences. Tier 1 money exchanging license: