Region

Jurisdiction

Regulator

2011-04-25

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.

Maldives

Maldives Monetary Authority

Circular no: CN-CBSS/2011/8

25th April 2011

To: All Commercial Banks

Dear Sir,

Submission of returns to MMA

Please be informed that banks should use the MMA’s reference rate published on the MMA website for all reporting purposes.

This means for an example if the bank is submitting the monthly returns for 30th April 2011, the bank should use the MMA reference rate for 30th April 2011.

Yours sincerely,

[Signature]

Mariyam Najeela Senior Manager Credit and Bank Supervision