Regulatory Alerts2025-04-29
Circular CN/2025/11212: Technology-Related Operational Incident Reporting Requirements
The Maldives Monetary Authority mandates that all commercial banks report technology-related operational incidents affecting critical systems to preserve financial sector integrity. Banks must notify the regulator within one hour of incident identification, submit a summary report upon resolution, and provide a detailed full incident report within seven working days. Additionally, institutions are required to provide at least 24 hours' notice for scheduled downtimes and proactively communicate with customers to manage reputational risks during unexpected disruptions.
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