Two more banks have joined the MMA's instant payment system, Favara.

The Bank of Ceylon (BOC) and the Mauritius Commercial Bank (MCB) are the new participants in the MMA's Maldives Payment System Development Project to facilitate easy, fast and secure payment services in the Maldives.

The two banks have completed the final preparations for the merger and the pilot testing, the MMA said in a statement today.

From today, customers of the two banks will be able to enjoy all the services of Favara including Favara Transfer, Favara Request, Favara ID and Favara Recall.

Favra's services, including BOC and MCB, are now available through a total of five banks. The other three banks served by Favara are BML, MIB and SBI.