The Maldives Monetary Authority published a notification confirming that Tier 1 applications for a money changing licence are open until 15 April 2025 under Regulation 92-R/2024. The money-changing business rules are positioned as part of efforts to strengthen the legal framework for the foreign exchange market and support sector stability, and set out the terms and conditions applicable to licensees as well as the factors the authority will assess when issuing licences. Applications are to be submitted via the authority’s online application channel referenced in the notification.
Maldives Monetary Authority 2025-02-24
Maldives Monetary Authority keeps Tier 1 money changing licence applications open until 15 April 2025
The Maldives Monetary Authority announced that Tier 1 applications for a money changing licence are open under Regulation 92-R/2024. The rules aim to enhance the legal framework for the foreign exchange market and ensure sector stability, detailing terms for licensees and assessment criteria for issuing licences. Applications must be submitted through the authority's online channel.