|
Maldives Monetary Authority
The Maldives Monetary Authority (MMA) is the central bank of the republic of Maldives and was established on July 1, 1981, under the mandate provided by the "MMA Act" of 1981, located in the capital city of Malé. The current governor and chairperson is Ali Hashim and deputy governor is Mr. Ahmed Imad. It is a member of the Asian Clearing Union. Its primary functions are to issue currency, regulate the availability of Maldivian rufiyaa (MVR), promote its stability, manage licenses, supervise and regulate institutions in the financial sector, formulate and implement monetary policy and to advise the government on issues relating to the economy and financial systems. The MMA is a member of thAlliance for Financial Inclusionand is active in developing financial inclusion policy. Governors * Maumoon Abdul Gayoom, July 1981 - August 2004 * Mohamed Jaleel, September 2004 - July 2005 * Qasim Ibrahim, August 2005 - April 2007 * Abdulla Jihad, August 2007 - July 2008 * Fazeel Najeeb, Oct ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Malé
Malé (, ; dv, މާލެ) is the capital and most populous city of the Maldives. With a population of 252,768 and an area of , it is also one of the most densely populated cities in the world. The city is geographically located at the southern edge of North Malé Atoll ( Kaafu Atoll). Administratively, the city consists of a central island, an airport island, and four other islands governed by the Malé City Council. Traditionally it was the King's Island, from where the ancient royal dynasties ruled and where the palace was located. The city was then called ''Mahal''. Formerly it was a walled city surrounded by fortifications and gates (''doroshi''). The Royal Palace (''Gan'duvaru'') was destroyed along with the picturesque forts (''koshi'') and bastions (''buruzu'') when the city was remodelled under President Ibrahim Nasir's rule in the aftermath of the abolition of the monarchy in 1968. However, some buildings remained, namely, the Malé Friday Mosque. In recent years, th ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Financial Inclusion
Financial inclusion is defined as the availability and equality of opportunities to access financial services. It refers to a process by which individuals and businesses can access appropriate, affordable, and timely financial products and services. These include banking, loan, equity, and insurance products. Financial inclusion efforts typically target those who are unbanked and underbanked, and directs sustainable financial services to them. Financial inclusion is understood to go beyond merely opening a bank account. It is possible for banked individuals to be excluded from financial services. Having more inclusive financial systems has been linked to stronger and more sustainable economic growth and development and thus achieving financial inclusion has become a priority for many countries across the globe. In 2018, it was estimated that about 1.7 billion adults lacked a bank account. Among those who are un-banked a significant number were women and poor people in rural areas a ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Central Banks
A central bank, reserve bank, or monetary authority is an institution that manages the currency and monetary policy of a country or monetary union, and oversees their commercial banking system. In contrast to a commercial bank, a central bank possesses a monopoly on increasing the monetary base. Most central banks also have supervisory and regulatory powers to ensure the stability of member institutions, to prevent bank runs, and to discourage reckless or fraudulent behavior by member banks. Central banks in most developed nations are institutionally independent from political interference. Still, limited control by the executive and legislative bodies exists. Activities of central banks Functions of a central bank usually include: * Monetary policy: by setting the official interest rate and controlling the money supply; *Financial stability: acting as a government's banker and as the bankers' bank ("lender of last resort"); * Reserve management: managing a country's ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Economy Of The Maldives
In ancient times, Maldives were renowned for cowries, coir rope, dried tuna fish (Maldive fish), ambergris (''maavaharu'') and coco de mer (''tavakkaashi''). Local and foreign trading ships used to load these products in the Maldives and bring them abroad. Nowadays, the mixed economy of Maldives is based on the principal activities of tourism, fishing and shipping. Tourism is the largest industry in the Maldives, accounting for 28% of GDP and more than 60% of the Maldives' foreign exchange receipts. It powered the current GDP per capita to expand 265% in the 1980s and a further 115% in the 1990s. Over 90% of government tax revenue flows in from import duties and tourism-related taxes. Fishing is the second leading sector in the Maldives. The economic reform program by the government in 1989 lifted import quotas and opened some exports to the private sector. Subsequently, it has liberalized regulations to allow more foreign investment. Agriculture and manufacturing play a mino ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Government Of The Maldives
The politics of the Maldives, as per the reports, take place in the framework of a presidential representative democratic republic, whereby the President is the Head of Government. Executive power is exercised by the government. The President heads the executive branch and appoints the Cabinet; like many presidential democracies, each member of the cabinet need to be approved by the Parliament. The President, along with their pick for vice president, is directly elected by the denizens to a five-year term by a secret ballot. Once in office, they could be re-elected to a second 5-year term, which is the limit allowed by the Constitution. The current President of the Maldives is Ibrahim Mohamed Solih, who was sworn into office on July 13, 2018, when his predecessor, Abdulla Yameen, lost the 2018 presidential election. Yameen followed his own predecessor Mohamed Nasheed's forced resignation in a coup led by the police. Nasheed reportedly resigned involuntarily to forestall an esc ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Ahmed Naseer
Ahmed Naseer (born October 31, 1975, in Maldives) is a Maldivian economist and former governor of Maldives Monetary Authority from August 2017 to July 2019. Naseer was raised in Malé, the capital of Maldives, and attended Iskandar School and Majeediyya School. Upon completion of his GCE O levels, he joined the Science Education Center for his higher secondary education He received his bachelor's degree in Economics from the Curtin University, Perth, Western Australia. He also earned a diploma in education from Curtin. In 2007, Naseer was awarded a Fulbright Scholarship, and completed his MA in Economic Policy from Williams College, Massachusetts, United States. After three years in the education sector, he joined the Ministry of Finance and Treasury as an assistant director. Upon completion of his master's degree, he joined the Maldives Monetary Authority (MMA), the central bank of the country. He then was appointed for the government in April 2011 as a State Minister of ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Azeema Adam
Silsila Azeemia (commonly known as the Azeemi Spiritual Sufi Order) is a Muslim Sufi order based in Pakistan with a following in the UK, the US, Austria, Serbia, Russia, Australia, Canada and various countries of the Middle East. The tariqa was started by Qalandar Baba Auliya (1898–1979). Silsila Azeemia is currently headed by Khwaja Shamsuddin Azeemi Khawaja Shamsuddin Azeemi ( ur, خواجه شمس الدين عظيمي; born 17 October 1927) is a Pakistani scholar in the field of spiritualism and a Sufi master. He is the current head of the Azeemia Sufi order. He has written books on the sub ... since 1980. There are more than a hundred Azeemi centres (Muraqba Halls) throughout the world. See also * Qalander Baba Auliya * Sufism * Baba Tajuddin of Nagpur References External linksOfficial Main Website [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Fazeel Najeeb
Fazeel Najeeb is former governor of the Maldives Monetary Authority (2008-2013) where he is also the Chairman of the Board of Directors. A native of Fuvahmulah, Fazeel is also the Governor of Maldives to the International Monetary Fund, and the current Chairman of SAARC Finance, a network of Central Banks in South Asia. He began his public service in 1987 at the Ministry of Trade and Industry. He also had his own consulting firm, before taking up his doctoral studies in London. He assumed office at Maldives Monetary Authority in 2008. Fazeel holds a PhD in Commercial Law (Intellectual Property), an LLM in International Business Law, and a BA Honours degree in Economics. He acquired education from the United Kingdom The United Kingdom of Great Britain and Northern Ireland, commonly known as the United Kingdom (UK) or Britain, is a country in Europe, off the north-western coast of the European mainland, continental mainland. It comprises England, Scotlan .... After assuming ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Abdulla Jihad
Abdulla Jihad served as Vice President of Maldives from 22 June 2016 to 17 November 2018. Prior to his appointment on 22 June 2016, he served as the Minister of Finance. Mr Abdulla Jihad was born on 3 January 1963. He graduated from the University of Waikato, New Zealand, with a Master of Management Studies in Economics. He also holds a Bachelor of Arts majoring in economics/management from the University of South Pacific, Fiji. Mr Jihad first joined Government services in 1980 as a temporary audit staff at the Audit Office. He later went on to fill a number of prestigious managerial posts in the Government. On 22 June 2016, he was appointed as the Vice President of the Republic of Maldives by President Abdulla Yameen Abdul Gayoom. Prior to assuming the post of Vice President of the Maldives, Mr Jihad served as the Minister of Finance and Treasury in President Yameen’s Administration. He had also served as the Minister of Finance and Treasury in President Mohamed Waheed Hassa ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Qasim Ibrahim
Qasim Ibrahim (born February 10, 1951), also known as Buruma Qasim is a Maldivian politician, business magnate and philanthropist. As the chairman and founder of the Villa Group, he is one of the country's wealthiest businessmen. Ibrahim ran for the Jumhooree Party in the presidential elections of 2013, but lost in the first round. Business career In 1969, Ibrahim began work as a clerk at the government hospital in Malé. In 1973, he left the hospital to work as a manager at M/S Alia Furniture Mart. He also worked temporarily for Crescent, a government trading organization. In 1974, Ibrahim joined an outlet of the Maldivian government's Bodu Store, now known as the State Trading Organization. Two years later, in 1976, he set up his own trading business in commodities such as rice, tobacco, diesel, and kerosene, which proved to be profitable. The business experienced rapid growth. He later expanded his business with a small loan of US$2,000 from State Bank of India (SBI), w ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Mohamed Jaleel
Muhammad was an Islamic prophet and a religious and political leader who preached and established Islam. Muhammad and variations may also refer to: *Muhammad (name), a given name and surname, and list of people with the name and its variations Persons with the name Muhammad and no other name * Muhammad (Bavandid ruler), 13th-century Iranian monarch *Muhammad V of Kelantan (born 1969), 15th Yang di-Pertuan Agong and Sultan of Kelantan *Mohammed VI of Morocco (born 1963), King of Morocco * Muhammed VII, Sultan of Granada (1370–1408) *Muhammad VII of Bornu of the Sayfawa dynasty (1731–1747) * Muhammed VIII, Sultan of Granada (1411–1431) * Mohammed VIII of Bornu of the Sayfawa dynasty (1811–1814) Places * Mohammad-e Olya, a village in Fars Province, Iran * Mohammad, Gachsaran, a village in Kohgiluyeh and Boyer-Ahmad Province, Iran * Mohammad, Kohgiluyeh, a village in Kohgiluyeh and Boyer-Ahmad Province, Iran * Mohammad, Sistan and Baluchestan, a village in Sistan and Baluc ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Maumoon Abdul Gayoom
Maumoon Abdul Gayoom (; dv, މައުމޫން ޢަބްދުލް ޤައްޔޫމް; born 29 December 1937) is a Maldivian politician and an Islamic scholar who served as the President of Maldives from 1978 to 2008. After serving as Minister of Transport, he was nominated as President by the Majlis (Parliament) of the Maldives and succeeded Ibrahim Nasir in 1978. He was defeated in the October 2008 presidential election. In opposition, he continued to serve as leader of the Dhivehi Rayyithunge Party until January 2010, when he retired from active politics. However, in September 2011, he returned to Maldivian politics as the leader of the newly formed Progressive Party of Maldives (PPM), whose candidate Abdulla Yameen Abdul Gayoom, Maumoon's half-brother, was victorious in the 2013 presidential elections. In July 2016, due to disagreements between president Yameen and Maumoon, the party split into two factions. Later in October 27, Maumoon withdrew his support for president Yameen a ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
.jpg "Click for more on -> Economy Of The Maldives")
