Banks and financial institutions had MVR 40 billion in outstanding loans to private businesses and individuals as of December 2023, according to the Maldives Monetary Authority's Monthly Statistics report for January. Tourism accounted for the largest sector share at MVR 12.4 billion, followed by construction at MVR 7.7 billion, while loan disbursements reached MVR 4.6 billion in 2023, the highest in five years.
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According to the statistics, loans and advances stood at MVR 40 billion as of December 2023.
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Transport and Communications 3.7 billion
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MVR 3.9 billion was disbursed to tourism businesses over five years.
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According to MMA data, loans worth MVR 13.9 billion have been disbursed in the past five years.
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The highest number of loans disbursed during this period was last year with loans disbursements worth MVR 4.6 billion.
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2019 1.9 billion
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2020 2.8 billion
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2021 2.3 billion
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2022 2.1 billion
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2023 4.6 billion
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