MMA Approves Cross-Border Transfer Service for Ooredoo’s m-Faisaa Wallet

16 October 2025, 05:00

The Maldives Monetary Authority (MMA) has granted Ooredoo Fintech Maldives an inward remittance license, allowing users to receive international funds directly into their m-Faisaa digital wallets. The licensing ceremony was held at MMA headquarters, where Governor Ahmed Munawwar handed over the license to Ooredoo officials including Fatima Al Kuwari and CEO Khalid Al-Hamadi.

This new capability removes intermediaries for cross-border transfers, enabling faster and more secure transactions for freelancers, small businesses, and families. Ooredoo says this move aligns with a push toward a cash-lite, digitally driven economy.

Khalid Al-Hamadi said the license bolsters m-Faisaa’s services—which already include bill payments, merchant QR transactions, and domestic transfers—and supports the company’s vision of digital inclusion and financial empowerment in the Maldives and beyond.

MMA Approves Cross-Border Transfer Service for Ooredoo’s m-Faisaa Wallet

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