Over MVR10 Million Worth Transactions in 48 Hours: MMA

The Maldives Monetary Authority reported that its instant payment system 'Favara' recorded 3,678 transactions worth MVR10.6 million in the 48 hours after launch. Three banks currently participate, with others adopting the system and an application still to be launched.

First reported 29 Aug 2023, 16:11

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Sources 1carried it 1 of 19 news outlets we monitor

Figures3as written, with their sentences

One outlet so far Only Maldives Republic has reported this among the sources we monitor. A gap in what we monitor, not proof that others did not report it.

How the reporting differs

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Maldives RepublicNews outlet

Over MVR10 Million Worth Transactions in 48 Hours: MMA

MVR10.6 million value of transactions on Favara

29 Aug 2023, 16:11 First Open at outlet

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Figures in these reports

as written, with the sentence they come from

MVR10.6 million value of transactions on Favara Maldives Republic
saw 3,678 transactions, valued at a total of MVR10.6 million, within 48 hours of launch, the central bank has revealed.
Word for word from the report in Maldives Republic. Open the report
MVR50,000 maximum limit for Favara Transfers Maldives Republic
Currently, the maximum limit for a Favara Transfers is MVR50,000, and for Favara Requests, the maximum limit is MVR5,000.
Word for word from the report in Maldives Republic. Open the report
MVR5,000 maximum limit for Favara Requests Maldives Republic
Currently, the maximum limit for a Favara Transfers is MVR50,000, and for Favara Requests, the maximum limit is MVR5,000.
Word for word from the report in Maldives Republic. Open the report

Subjects

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Finance & banking

Named in these reports

alphabetical

Maldives Monetary Authority State Bank of India