Maldives Monetary Authority (MMA) has decided to bring major changes to monetary policies in an effort to halt the dollar black market.
During a press conference on Sunday, MMA's Deputy Governor Ahmed Imad stated that the government is in support of MMA's policy changes.
He further stated that the changes have been discussed with all relevant administrations and that significant changes are being brought to the foreign exchange bracket.
As the government is in favor of the changes, what is left is to discuss the effects on businesses with business owners, said Imad.
He revealed that the discussions will begin within the week, and information regarding the policies will be shared with business owners and the public.
No details of MMA's policy changes were provided.