Regulatory Alerts2017-11-06
Regulation on Issuing Loans to Employees of the Maldives Monetary Authority
The Maldives Monetary Authority issued this regulation to establish principles ensuring fair and equal treatment when granting loans to its employees. It permits loans for residential purchases, construction, renovation, and higher education, subject to strict eligibility criteria such as permanent status and a minimum five-year service period. Recipients are selected based on a points system, and all disbursements must be formalized through a detailed loan agreement outlining repayment terms and default consequences.
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