System that allow instant transfer between banks launch

1 month ago

‘Favara’, a payment system that allows instant money transactions between two banks, has been launched. The system, developed by the Maldives Monetary Authority (MMA), was launched by Vice President Faisal Naseem, during a special event held at Crossroads Maldives on Saturday night.  Speaking at the event, MMA's Governor Ali Hashim underscored that usage of internet banking and mobile banking was more common