MMA announces banking hours for Ramadan


Source: Mihaaru

The Maldives Monetary Authority (MMA) announced the revised the banking hours for the month of Ramadan.

The circulation from announced that MMA will be opened for business between 09:00hrs to 13:00hrs during the entire month or Ramadan as well as for the first seven days of the succeeding Islamic calendar month of Shawwal.

As for the services rendered by the MMA, they will be accepting transactions of cash issuance and acceptance between 09:30hrs and 12:00hrs everyday during the said Islamic month. In addition to this, banks will accept transactions of coins, either issuance or acceptance of it between 09:30hrs and 11:00hrs.

Furthermore, the authority declared acceptance of letters and such documents during the month will be between 09:30hrs and 12:00hrs.

The public and private sector collectively revise their operational and business hours during the month of Ramadan. While most public offices reduce the official working hours, the same goes for several private sector businesses.

However, local food and beverage outlets and consumer goods or retail businesses extend their business hours in Maldives due to the custom of locals spending time late into the night during Ramadan.

The government of Maldives declared that all public sector institutions including ministries and authorities will be operating between 09:00hrs and 13:00hrs.