Regulatory Alerts2020-01-05
Circular CN-BSD/2020/1: Facilitation of Inward Investment Accounts
The Maldives Monetary Authority issued this circular to establish Inward Investment Accounts (IIAs) that allow eligible non-residents to route funds for permitted capital market investments. The regulation defines eligible investors, including non-citizens and resident foreigners, and restricts permitted transactions to specific securities listed on the Maldives Stock Exchange or government bonds. Banks are mandated to maintain these non-interest-bearing accounts while conducting enhanced due diligence and Know-Your-Customer procedures to ensure compliance with anti-money laundering laws.
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