The Maldives Monetary Authority (MMA) launched a competition inviting participants to design souvenirs and artwork using shredded worn-out banknote particles, after confirming that destroying usable currency is an offense under Maldivian law. The shreds come from the central bank's routine disposal of unusable notes, with 938,033 notes shredded in 2025, and the MMA has extended the competition's registration deadline to May 31, 2026.
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According to the MMA's 2025 Annual Report, a total of 938,033 damaged banknotes were shredded during that year alone.
Word for word from the report in The Standard. Open the report
The MMA has also extended the registration deadline for the competition until May 31, 2026.
Word for word from the report in The Standard. Open the report