PAC Recommends Ahmed Munawwar for Central Bank Governorship

The Public Accounts Committee of the Parliament has recommended the appointment of former Finance Minister Ahmed Munawwar as the Governor of the Maldives Monetary Authority (MMA). Following an interview session this morning, committee members awarded Munawwar an impressive average score of 97 marks.

The final decision on Munawwar's appointment now rests with the Parliament, which will convene tomorrow to vote on whether to recommend President Muizzu officially appoint him as the MMA Governor. This follows President Muizzu's request for parliamentary advice on the matter last Monday, after the removal of former MMA Governor Ali Hashim based on parliamentary advice.

Munawwar currently serves as an Advisor to the Minister of Finance. His extensive experience and previous tenure as Finance Minister have bolstered confidence in his capability to steer the central bank effectively.

The Finance Committee’s endorsement of Munawwar underscores the government’s commitment to strengthening the financial sector amid ongoing economic challenges. Munawwar’s anticipated appointment is seen as a strategic move to enhance the governance and operational efficiency of the MMA, ensuring economic stability and growth.

The decision is part of a broader effort by President Muizzu’s administration to consolidate the financial regulatory framework and address key economic issues. As the Parliament prepares to make its decision, stakeholders are closely watching the developments, given the significant impact the appointment could have on the country's financial landscape.

Munawwar's previous roles and his current advisory position reflect a deep understanding of the Maldives' financial systems, promising a seamless transition and continued progress in the nation's economic policies.