MMA to sell USD directly from Nov 20 to Jan 7

Central bank, Maldives Monetary Authority (MMA) has decided it will be selling United States Dollar to travelers directly from its headquarters, from November 20, 2016 to January 7, 2017.

The announcement was made by Governor of MMA, Dr. Azeema Adam during a press conference held this Saturday morning.

Dr. Azeema announced that after January 7, USD will be sold from the Bank of Maldives branch in departure terminal at Ibrahim Nasir International Airport (INIA).

People who go to MMA every working day from 9 am to 6 pm will be given a slip after their documents are verified.

MMA will then issue USD from 4 pm onwards.

“You don’t need to wait in queues. USD will be available from MMA from 9 am to 7 pm,” said Azeema.

MMA will be issuing USD 500 per ticket, 7 days prior to date of departure.

Azeema said that after January 7, Maldivian passengers travelling out of the country will be sold USD from inside the airport terminal by producing their boarding passes.

MMA had been selling banks USD 1.2 million each week so that banks will be able to re-sell USD to passengers at the rate of USD 500.

MMA sells a total of USD 4.3 million to banks each week for various purposes.