The Maldives Monetary Authority has cancelled Express Money Exchange Private Limited’s license to buy and sell foreign currency after identifying breaches of the rules governing money-changing businesses. The authority urged all parties to conduct foreign exchange transactions in accordance with applicable laws and regulations. It will continue coordinating with law enforcement agencies to take action against entities that breach the requirements.
2026-08-20Maldives Monetary Authority
Maldives Monetary Authority cancels Express Money Exchange license over regulatory breaches
The Maldives Monetary Authority has cancelled Express Money Exchange Private Limited’s foreign currency trading license over regulatory breaches. The authority will continue working with law enforcement agencies to act against entities that violate money-changing requirements.