Submissions for licensing a Development Bank of the Maldives have been filed with the Maldives Monetary Authority, Minister of Economic Development and Trade Mohamed Saeed said, and the administration says the bank will open this month. The bank is intended to address funding gaps for development projects and provide concessional financing, a campaign pledge of President Mohamed Muizzu.
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.
Submissions for the licensing of a Development Bank have been filed with the Maldives Monetary Authority (MMA), Minister of Economic Development and Trade Mohamed Saeed said in a post to social media on Sunday. The application for the Development Bank of the Maldives, seeking to establish a financial institution which will address gaps in funding for development projects, was submitted on Sunday, the Minister confirmed.
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The Maldives International Financial Services Authority was established in January with a view to develop a financial industry in the Maldives, including a development bank and offshore banking services.
Word for word from the report in Maldives Republic. Open the report
