Vision

The Maldives Monetary Authority’s vision is to become a credible, independent and contemporary central bank committed to maintaining price stability and promoting inclusive, sustainable economic growth.

Mission

Our mission is to promote the international value and stability of the Maldivian rufiyaa, develop a secure and efficient payments system in the Maldives and foster a sound financial sector conducive to the orderly and balanced economic development of the Maldives.


STRATEGIC Goals

Goal 1: STRENGTHEN MONETARY POLICY TO MAINTAIN PRICE STABILITY


We will work to enhance our monetary policy transmission mechanism through de-dollarisation and by pursuing the most appropriate exchange rate regime for the Maldives to maintain price stability. In line with these changes, our monetary policy instruments will be redesigned by establishing added incentive mechanisms for local currency. Legislative and operational changes will be considered to develop a well-functioning foreign exchange market.


Goal 1 in details

GOAL 2: FINANCIAL SECTOR STABILITY


We will continue to regulate and supervise the financial sector with the objective of promoting financial stability and an efficient financial system, while maintaining public confidence.


Goal 2 in details

Goal 3a: ENSURE SAFE AND EFFICIENT PAYMENTS SYSTEM


One of our foremost priorities over the coming five years is the development of a safe and robust payments system infrastructure that is conducive to the efficient and smooth functioning of economic activities while promoting innovation and economic growth. We will also continue to promote a safe and secure currency while also ensuring its management is in line with the best international practices and to the requirements of the economy.


Goal 3a in details

Goal 3b: TRANSFORM AND DEVELOP BANKING AND AGENCY SERVICES TO THE GOVERNMENT


We will work towards the development of an enhanced infrastructure setup that caters efficient banking services to the government and robust operations of government securities market that is in line with the best international practices and to the requirements of the economy.


Goal 3b in details

Goal 4: ENHANCE MMA’S OPERATIONAL EFFICIENCY AND GOVERNANCE


We will work to improve the operational efficiency of the MMA. To this end, we intend to focus on the automation of operational processes to enhance productivity, develop the human resources of the MMA, adhere to international best practices in governance and risk management, enhance the robustness and security of IT infrastructure, improve communication with the public and promote a conducive work environment for our staff.


Goal 4 in details

Goal 5: ENHANCE MACROECONOMIC RESEARCH AND STATISTICS


We will strive to enhance macroeconomic research and statistics by improving the coverage and quality of data, prioritising policy relevant research, and improving public outreach platforms to facilitate policy decisions, and undertake efforts to increase macroeconomic awareness among the public.


Goal 5 in details

Goal 6: FINANCIAL SECTOR DEVELOPMENT AND FINANCIAL INCLUSION


We will aim to provide all-inclusive access to affordable financial services, through innovative mechanisms to allow competition, efficiency and diversity in the financial sector. In our efforts to ensure a financially literate population capable of making informed decisions, we will be implementing a collaborative and comprehensive financial literacy programme. Furthermore, we will seek to establish a sound comprehensive legislative framework for both financial consumer protection and Islamic finance to strengthen the financial sector of the Maldives.


Goal 6 in details


Contact Us


Maldives Monetary Authority

Majeedhee Building

Boduthakurufaanu Magu

Malé 20182

Republic of Maldives



Phone: (960) 3314940 / (960) 3339880

Fax: (960) 3323862

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