MMA: PayPal Not in Maldives Due to Company’s Own Business Decision

The Maldives Monetary Authority (MMA) has clarified that PayPal’s services are not available in the Maldives due to the company's own internal business decision—not because of any legal barriers wi...

Mohamed Hilmy

18 June 2025, 05:00

This clarification came in a letter issued by MMA Governor Ahmed Munawar, in response to a formal inquiry by North Galolhu MP Mohamed Ibrahim. The issue was raised in connection with President Dr Mohamed Muizzu’s campaign pledge to expand access to global online payment platforms.

The matter was also discussed at today’s Parliament Public Accounts Committee meeting.

According to MMA, there are no legal restrictions under the National Payment System Act or the Payment Services Regulation that would prevent foreign payment platforms like PayPal from entering the Maldivian market. Companies are free to operate once they obtain the necessary approvals.

MMA further revealed that in response to rising demand, they had engaged in talks with a regional PayPal office in 2020. However, by 2021, the company decided not to expand to the Maldives, citing business feasibility and internal strategic priorities following its market assessment.

The MMA added that the Ministry of Economic Development and Trade is currently working to facilitate PayPal’s potential entry into the country as part of a broader effort to improve access to international digital payment services.

MMA: PayPal Not in Maldives Due to Company’s Own Business Decision

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