MMA Restructures with New Managing Director Roles

The Monetary Authority of Maldives (MMA) is set to appoint five managing directors, marking a significant structural shift. The decision, aimed at improving the authority's performance and effectiveness, involves transitioning the role of Assistant Governor to Managing Director. Existing assistant governors will now serve as advisors.

This reorganization, approved by the MMA Board and newly appointed Governor Ahmed Munawar, introduces five managing director roles, each representing different sectors. These positions are designed to be filled through a competitive process open to both current MMA employees and external candidates, with terms set at five years.

Governor Munawar, who took office in July following the dismissal of former Governor Ali Hashim, is committed to supporting the government's economic development efforts. The structural changes are expected to bring fresh perspectives and drive better outcomes for the MMA and the Maldivian economy.