MMA Gazettes Amendments to Two Foreign Exchange Regulations

The amended regulations are the Regulation on Registration under the Foreign Exchange Act and the General Foreign Exchange Regulation.

Mohamed Hilmy

10 September 2026, 08:33

The Maldives Monetary Authority (MMA) has amended and gazetted two regulations under the Foreign Exchange Act, with both changes taking effect today.

The amended regulations are the Regulation on Registration under the Foreign Exchange Act and the General Foreign Exchange Regulation.

Under the registration regulation, businesses outside the tourism and financial sectors must register with the MMA if they generate annual revenue of USD 25 million or more from the sale of goods or provision of services.

Meanwhile, the General Foreign Exchange Regulation establishes the conditions governing foreign currency transactions and the procedures for obtaining authorization from the MMA. It also requires businesses to submit their annual foreign currency expenditure budgets to the Authority at least 30 days before the beginning of each year.

The regulation further outlines procedures for requesting a review of mandatory foreign currency exchange amounts and seeking relief from deposit and currency exchange obligations.

MMA Gazettes Amendments to Two Foreign Exchange Regulations

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