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Maldives: lending & credit regulation

Regulated

Maldives lending regulated by MMA under Banking Act; no specific consumer credit license

Lead regulator:
Maldives Monetary Authority
Key law:
Maldives Banking Act (2015)
Last updated:
2026-07-12

Lending activities in the Maldives are primarily conducted by licensed local banks under the supervision of the Maldives Monetary Authority (MMA). The regulatory framework is anchored by the Maldives Banking Act (2015) and subsequent prudential regulations issued by the MMA.

There is no distinct licensing regime for non-bank consumer credit or lending entities described in the provided documents. Consequently, general lending and consumer credit activities appear to be restricted to licensed banks, with no separate license category identified for fintech or non-bank lenders.

The MMA enforces strict prudential limits on lending, including caps on single borrower exposures (15% of capital) and related party transactions (15% individually, 50% in aggregate). Recent directions include the Inclusive National Affordable Housing Scheme, which mandates local banks to allocate 10-15% of loan portfolios to specific Sharia-compliant housing facilities.

Who regulates

  • Maldives Monetary Authority

    Primary supervisor of licensed banks and issuer of prudential regulations

    [1][2][3][4][5][6][7]

Core laws & rules

  • Maldives Banking Act (2015)

    Establishes the legal framework for banking oversight, including credit exposure limits and anti-money laundering requirements.

    [8]

  • Regulation on Single Borrower and Large Exposure Limits (2015)

    Caps single borrower exposures at 15% of capital and borrowing group limits at 40%.

    [7]

  • Regulation on Limits on Loans to Related Persons (2015)

    Caps loans to related persons at 15% of capital individually and 50% in aggregate, requiring market terms.

    [3]

Licensing & registration

  • Banking License

    Lending is conducted by licensed local banks; no specific non-bank consumer credit license is identified in the source documents.

    [1]

Restrictions & warnings

  • Banks must cap single borrower exposures at 15% of capital and related party loans at 15% individually/50% in aggregate.

    [7][3]

  • Licensed banks are required to contribute 10-15% of their loan portfolios to the Inclusive National Affordable Housing Scheme.

    [1]

Direction of travel

  • Regulatory focus remains on prudent credit risk management, related party transaction controls, and supporting national housing affordability through mandatory bank contributions.

    [1][8]

Sources

  1. Regulation on Inclusive National Affordable Housing Scheme · 2025-11-04
  2. Regulation on Transactions with Related Persons · 2018-01-25
  3. Regulation on Limits on Loans to Related Persons · 2018-01-25
  4. First Amendment to Regulation on Transactions with Related Persons · 2017-12-27
  5. First Amendment to Regulation on Limits on Loans to Related Persons · 2017-12-27
  6. Regulation on Limits on Inter-Bank Exposures · 2015-08-25
  7. Regulation on Single Borrower and Large Exposure Limits · 2015-07-14
  8. First Amendment to the Maldives Banking Act (2015) · 2015-01-05

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This guide is compiled automatically from 8 primary-source documents published by Maldives's regulators, reviewed by RegAlert, and refreshed monthly (last updated 2026-07-12). It is not legal advice — always confirm requirements with the regulator or local counsel before acting.