meta_id 3402004

On August 12, 2026, the Maldives Monetary Authority (MMA) proposed amendments to Law No. 8/2021 (National Payment System Act) and Law No. 32/2024 (Foreign Currency Act). The MMA said the proposed amendments form part of its continued efforts to safeguard the stability and integrity of the financial system, strengthen the domestic foreign exchange market, and ensure that the relevant legislative frameworks remain responsive to evolving market conditions and operational requirements. The amendments address updates needed across both acts to reflect current operational needs and market developments. By proposing these legislative changes, the MMA aims to enhance its regulatory framework governing payment systems and foreign currency operations within Maldives. The amendments are intended to support the MMA's mandate to maintain financial system stability while adapting to changing market dynamics and emerging operational challenges. These changes will affect payment service providers, financial institutions, and entities engaged in foreign exchange activities operating within Maldives' jurisdiction. The proposed amendments are available for review via the MMA's official channels. Stakeholders and interested parties should review the detailed amendment proposals to understand the specific changes being introduced to both acts. Further information regarding consultation timelines, feedback submission processes, or implementation dates will be provided by the MMA as the amendment process progresses.