Western Union services have been temporarily suspended in the Maldives.
As per an announcement made by Maldives Monetary Authority (MMA) two days ago, the remittance service license issued to Island Financial Services Private Limited which runs Western Union in the Maldives has been suspended until further notice. However, MMA has not provided a reason for the suspension.
According to local sources, the license was suspended due to Island Financial Services Private Limited failing to comply with some regulations and recommendations made by MMA within the issued notice period.
An official from Island Financial Services Private Limited said that the services will resume on Sunday once the necessary changes have been brought into effect.
Many expatriates and locals alike use reliable and secure Western Union services to send money abroad.