Regulatory Alerts2017-12-27
First Amendment to Regulation on Limits on Loans to Related Persons
The Maldives Monetary Authority issued this amendment to Regulation No. 2015/R-151 to redefine "related persons" and adjust loan limits for employees. The revised definition expands the scope to include administrators, their close relatives, qualifying holders, and affiliated undertakings, while clarifying control relationships. Additionally, the amendment caps the total outstanding balance of concessionary loans to employees at MVR 5,000,000 or 15% of the bank's capital base, whichever is lower.
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