MMA targets to increase USD sales to MSME's by 50%

Maldives Monetary Authority (MMA) aims to raise the proportion of US dollars allocated to small and medium enterprises (SMEs) through banks to 50 percent by the end of this year.

MMA Information Officer Ibrahim Zaheen stated that banks have received deposits amounting to USD 362 million as of June 2025 since the implementation of the foreign exchange law and the commencement of dollar interventions.

Zaheen noted that the flow of foreign currency into Maldivian banks has risen by 21 percent following the introduction of the law, compared to an average increase of 10 percent over the past four years.

The move is part of MMA’s strategy to improve foreign exchange accessibility for SMEs and stabilise the market.