Regulatory Alerts2011-04-25
Circular CN-CBSS/2011/08: Submission of Returns to MMA
The Maldives Monetary Authority issued Circular CN-CBSS/2011/8 to mandate that all commercial banks utilize the MMA’s published reference rate for regulatory reporting. The directive requires banks to apply the specific reference rate corresponding to the exact date of the submission, such as using the April 30 rate for returns filed on that day. This instruction ensures consistency and accuracy in the data submitted by financial institutions to the central bank.
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