The government is working to open more banks in the country

As part of its efforts to overcome the current dollar shortage in the Maldives, the government is working to open more banks in the country.

Three oversees banks have already requested for licence to operate their branches in the country. The government has, therefore, made it a top priority to speed up this process. In this regard, the Ministry of Finance and Treasury has now been working together with the Maldives Monetary Authority in issuing their licences.