MVR to be introduced as a digital currency

Environment, Climate Change, and Technology Ministry says work is underway to introduce MVR as a digital currency.

The Ministry presented the 2021 annual report at the Parliament Committee on National Development and Heritage meeting on Monday.

During the presentation, the Ministry noted that work is underway in collaboration with Central Bank MMA to introduce MVR as a digital currency to further develop financial technology (FinTech) in the Maldives.

Technology Ministry is currently working on introducing a new version of the Government E-Letter Management System (GEMS) to enhance digital communication between Government authorities and offices.

Additionally, the Ministry stated that a new network will be introduced within the first 6 months of 2023 so schools, health centres and councils can work online.

The Ministry also stated that they are working together with Maldives National University (MNU) and Islamic University of Maldives (IUM) to implement a higher education network as well.