Maldives Instant Payment System “Favara” revolutionizes financial landscape as three banks join the innovation wave

The Maldives financial sector has taken a significant leap towards digital transformation with the official inauguration of the Maldives Instant Payment System, “Favara.” In a momentous ceremony on August 26, 2023, Vice President Faisal Naseem launched the pioneering payment system, highlighting its potential to revolutionize the nation’s financial infrastructure. The inception of the Favara payment […]

Occupancy rates decline in Maldives in November as fish exports fall, reports MMA

November saw 90,218 tourists arrive, a 14% drop in monthly terms, the Maldives Monetary Authority’s Monthly Economic Review reveals.

Maldives Monetary Authority unveils new banknotes

The Maldives Monetary Authority (MMA) unveiled its new banknote series at a special function held in Dharubaaruge on 1 November.

September arrivals decline by 13 percent in the Maldives

Arrivals in September plunged 13 percent in monthly terms according to the Maldives Monetary Authority’s Monthly Economic Review.

MMA report: Chinese arrivals rebound in August, as fish exports boom in the Maldives

August saw a 7.8% year-on-year increase in Chinese arrivals, as well as an phenomenal 407% year-on-year increase in fish exports.

Fisheries decline in July while tourist arrivals stabilise, MMA reports

Total tourist arrivals in July climbed in both monthly and annual terms by 28 percent and 4 percent respectively, totalling 104,517, notes the Maldives Monetary Authority’s Monthly Economic Review.

Maldives tourism and fisheries declined in June, reports MMA

June 2015 saw a decline in both tourist arrivals and fish exports, according to the latest MMA Monthly Economic Review.

Maldives Monetary Authority publishes 2014 annual report, estimates total tourism receipts at US$2.6bn

The Maldives Monetary Authority’s 2014 Annual Report covers developments in the domestic economy, MMA initiatives and the outlook for 2015.

MMA’s Monthly Economic Review: tourist arrivals up by 7% in March, overall occupancy down

The Maldives Monetary Authority’s Monthly Economic Review, vol. 9 published May 31st, highlights growth in arrivals despite falling occupancy.

Maldives Monetary Authority announces new polymer banknote family

The Maldives Monetary Authority (MMA) has announced that it will be launching a new family of seven banknotes on De La Rue’s Safeguard polymer substrate.