President Removes Hashim and Appoints Munawar as Governor of Maldives Monetary Authority

In a significant administrative change, President Mohammed Muizzu has removed Ali Hashim from his position as Governor of the Maldives Monetary Authority (MMA) and appointed Ahmed Munawwar as his successor. The decision follows a parliamentary motion initiated by the President, seeking a discussion on Munawwar's appointment.

The Parliament, after deliberation, passed a resolution recommending the removal of Ali Hashim. The Public Accounts Committee submitted its decision to recommend Hashim's removal, citing his inadequate performance of duties. A critical factor in the decision was Hashim's policy of indirectly restricting lending by banks and financial institutions, resulting in a lack of money circulation within the economy and slowing economic activity.

Ali Hashim, who served as Finance Minister during the 2008 MDP government, was appointed as Governor of the MMA by President Ibrahim Mohamed Solih in 2019. His tenure faced criticism from several parliamentary members for policies perceived as hindering economic growth.

Ahmed Munawwar, the newly appointed governor, is expected to bring a fresh perspective to the MMA. His appointment aims to address the economic challenges faced by the Maldives, particularly those related to monetary policy and financial stability. Munawwar's experience and expertise are anticipated to drive more dynamic economic policies, promoting greater financial inclusion and economic activity.

The change in leadership at the MMA reflects the government's commitment to revitalize the country's monetary policy framework and enhance economic growth. The new governor is tasked with navigating the Maldives through its current economic challenges, ensuring a more robust and responsive financial system.