Small banking sector cause of low foreign currency reserve: Munawwar

Munawwar, in his meeting with the Public Accounts Committee of the Parliament explained his thoughts on improving the country's banking sector.

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[File] Former Finance Minister and current Advisor to the Foreign Minister as well as new Governor nominee Ahmed Munawwar -- Photo: Mihaaru

Ameera Osmanagic

2024-07-29 16:35:40

Maldives needs to expand its banking sector and introduce benefits in order to maintain foreign currency in the country, said former Finance Minister and Maldives Monetary Authority (MMA)'s new Governor nominee Ahmed Munawwar today.

Following former Governor Ali Hashim's dismissal from the position last week, President Dr Mohamed Muizzu nominated Munawwar for the post and forwarded his name to the Parliament for approval.

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