Under their Foreign Exchange Intervention Policy, the Maldives Monetary Authority (MMA) has said that they are working together with Customs to create a verification system for importers of essential goods in order to provide foreign currency that is sold to banks.

MMA said they are working together with Customs Service to establish a verification service, which will assure that the goods being bought by parties via foreign currency TT transactions are being brought into Maldives.

Additionally, MMA said they are working together with the Ministry of Economic Development, Transport and Trade in identifying those who import essential goods.

Bank of Maldives (BML) stated last month that they had provided more than USD 186 million to customers for TT transactions from January 2026 to July 2026. This averages to USD 27 million per month. This is a USD 12 million increase compared to the 2025 monthly average.

Looking at BML's statistics, they have provided around USD 570 million to customers over the last six months for various needs. On average, that is USD 2.7 million daily.

It has recently come to light that Sri Lanka is experiencing a major issue where many parties have been deceiving the banking system and taking USD out of the country in the name of importing goods. Sri Lankan police stated that fake companies that import goods were made, with around USD 1 billion having been sent out of the country. They also said they were unable to find the imported goods bought from the transactions.

USD rates have gone up in Maldives as well, with business and the public bearing the burden. Steps are being taken in order to solve the issue.