The Maldives Monetary Authority reminded all parties subject to the Foreign Currency Act, Law No. 32/2024, that Section 10 requires them to convert a portion of each calendar month’s foreign currency income before the 28th of the following month and warned that, under established procedures, it will continue publishing the names of parties that fail to meet the conversion obligation by the deadline.
Maldives Monetary Authority reiterates monthly foreign currency conversion deadline and warns of public disclosure for noncompliance
The Maldives Monetary Authority reiterated the requirement to convert part of each calendar month’s foreign currency income before the 28th of the following month, warning that parties missing the deadline will continue to be publicly named under established procedures.