MMA hikes fees, tightens rules for dollar exchanges

4 hours ago

The Maldives Monetary Authority (MMA) has amended the General Regulation on Foreign Currency to increase fees and introduce stricter operational standards for businesses licensed to exchange foreign currency. Under the revised regulation, the application fee for a Tier One license, which permits both buying and selling of foreign currency, has doubled from MVR 20,000 to MVR 40,000. The renewal fee has