News economy / finance Maldives Impact 8.0/10 1 min read

Steps to Increase Dollar Revenue Assisted in Sukuk Repayment: MMA

The Maldives Monetary Authority (MMA) stated that the implementation of the Foreign Exchange Act aided in repaying the $500 million Sukuk. The MMA settled $524.68 million on April 2, 2026, covering the Sukuk principal and final coupon. Funds came from state reserves and the Sovereign Development Fund. The MMA noted that enforcement of 2024 amendments to the Foreign Exchange Act strengthened foreign exchange system and helped meet debt obligations.

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The Standard

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Apr 4, 2026

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The Maldives Monetary Authority (MMA) stated that the implementation of the Foreign Exchange Act aided in repaying the $500 million Sukuk. The MMA settled $524.68 million on April 2, 2026, covering the Sukuk principal and final coupon. Funds came from state reserves and the Sovereign Development Fund. The MMA noted that enforcement of 2024 amendments to the Foreign Exchange Act strengthened foreign exchange system and helped meet debt obligations.

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