Regulatory Alerts2016-03-14
Added · Updated
Circular CN-BSD/2016/4: General Licensing Requirements to Open a Branch, a Subsidiary or a Representative Office
The Maldives Monetary Authority issued this circular to outline the licensing requirements for banks seeking to establish a branch, subsidiary, or representative office under the Maldives Banking Act 2010. Banks must submit a written notice at least 30 days prior to opening and provide detailed information including organizational structure, management details, internal controls, and a feasibility study. Foreign banks are additionally required to obtain approval from their home country regulator as part of the application process.
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