Regulatory Alerts2022-03-13
Regulation on Payment Services
The Maldives Monetary Authority issues these regulations to establish the licensing framework, operational standards, and consumer protection requirements for payment service providers in the Maldives. The document mandates strict capital adequacy, security deposit, and customer fund segregation measures to ensure financial stability and safeguard client assets. It further defines specific service categories, application procedures, and transaction processing timelines to regulate the national payment system.
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