The Maldives government has accepted the central bank’s revisions to policies relating to the exchange of foreign money in the black market, the Maldives Monetary Authority (MMA) said on Sunday.
According to MMA Deputy Governor Ahmed Imad, the government has supported the reforms recommended by the MMA, which were formulated after discussions with international experts.
Imad stated that the central bank is working on major changes to the current foreign exchange market regulation structure. He went on to say that the planned steps had been discussed with relevant government officials.
He also stated that, beginning this week, discussions will be held with local businesses about these measures and how the changes will affect them. He added that the adjustments would be notified to the public.