Regulatory Alerts1985-12-18
Circular GM-24/85: Annual Closing
The Maldives Monetary Authority issued Circular GM-24/85 to mandate that all banks in the Maldives close their annual accounts on December 30th each year. The directive further requires banks to treat December 31st as a closed day for all public transactions. This regulation was issued by the Operations Division on December 18, 1985.
بسم الله الرحمن الرحيم
MALDIVES MONETARY AUTHORITY MALE, REPUBLIC OF MALDIVES
Circular 20
Cable: BOLI MALDIVES Telex: 66055 BOLI MF Telephone: 2290, 2291, 2269.
Circular REF.NO. GM-24/85
December 18, 1985
To: All Banks in Maldives
Dear Sirs,
Annual Closing
All banks are directed to close their annual accounts on 30th of December every year and treat 31st December as closed for public transactions.
Yours sincerely,
(Signature)
Khadeeja Hassan Manager Operations Division