Regulatory Alerts2012-11-19
Circular CN-CBSS/2012/12: Offering Banking Services on Saturdays
The Maldives Monetary Authority issued Circular CN-CBSS/2012/12 to permit commercial banks in the Maldives to open on Saturdays for limited banking business, subject to prior approval. The circular explicitly states that the MMA itself will remain closed on Saturdays and that clearing sessions will continue to operate on all Government working days unless otherwise advised. This directive applies to all commercial banks operating within the country.
MALDIVES MONETARY AUTHORITY MALÉ, REPUBLIC OF MALDIVES
Circular no: CN-CBSS/2012/12
19th November 2012
To: All Commercial Banks
Dear Sir,
Re: Offering banking services on Saturdays
This is to inform you that banks operating in Maldives may open on Saturdays to offer limited banking business, with MMA’s prior approval.
Please note that MMA will not be open for business on Saturdays. Clearing sessions will continue to be on all Government working days, unless otherwise advised.
Thank you.
Yours sincerely,
[Signature]
Mariyam Najeela Senior Manager In charge of Banking Supervision Division