The Maldives Monetary Authority has granted a banking licence and operational approval to Maldives Premier Bank Private Limited, authorising it to conduct commercial banking activities in the Maldives under applicable laws and regulations. The approval follows pre-operational approval issued on 19 May 2025 for the establishment of a Tier 1 bank, subject to the bank meeting all licensing and pre-operational requirements to the authority’s satisfaction. During that phase, the authority also approved revisions to the institution’s proposed name and ownership structure. In its announcement, the authority linked the licensing to efforts to deepen the financial sector, increase competition in banking, and broaden access to financial services.
Maldives Monetary Authority2026-05-18
Maldives Monetary Authority grants banking licence and operational approval to Maldives Premier Bank
The Maldives Monetary Authority has granted a banking licence and operational approval to Maldives Premier Bank Private Limited to conduct commercial banking activities in the Maldives. The decision follows a pre-operational approval issued in May 2025, during which the authority approved changes to the bank’s name and ownership structure, and is positioned as part of efforts to deepen the financial sector, increase banking competition, and broaden access to financial services.