Over MVR10 Million Worth Transactions in 48 Hours: MMA
The Maldives Monetary Authority (MMA)’s instant payment system (IPS) ‘Favara’ saw 3,678 transactions, valued at a total of MVR10.6 million,...
VP Champions More Financial Sector Development
The country is in vital need of banks that can provide easier housing finance options and should embrace a more...
MMA Launches ‘Favara’ Instant Payment System
The Maldives’ central bank, Maldives Monetary Authority (MMA), has finally launched its Instant Payment System, ‘Favara,’ to facilitate fast, convenient,...
MMA, UNDP Sign Insurance Development Agreement
The Maldives Monetary Authority (MMA) has signed a financing agreement with the United Nations Development Programme (UNDP) to begin collaboration...
Three Banks Join Central Bank’s Instant Payment System
In a significant development for the Maldivian financial sector, three local banks have signed an agreement with the Maldives Monetary...
