Maldives Premier Bank granted banking licence by MMA

The approval follows the pre-operational clearance issued on 19 May 2025 for the establishment of a Tier 1 bank, subject to the fulfilment of all licensing and pre-operational requirements set by the central bank.

Mohamed Hilmy

18 May 2026, 14:43

The Maldives Monetary Authority (MMA) has granted a banking licence and operational approval to Maldives Premier Bank Private Limited, authorising the institution to conduct commercial banking activities in the Maldives in accordance with applicable laws and regulations.

MMA stated that during the pre-operational phase, revisions to the proposed name of the institution and its ownership structure were submitted and subsequently approved by the authority.

The central bank described the licensing of Maldives Premier Bank as an important milestone in ongoing efforts to further strengthen and deepen the Maldivian financial sector.

MMA noted that the entry of the new bank is expected to enhance competition within the banking industry while also supporting broader access to financial services across the country.

The authority further reaffirmed its commitment to maintaining a sound, stable, inclusive and competitive financial system through a robust licensing and supervisory framework.

Maldives Premier Bank granted banking licence by MMA

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