The governor of Maldives Monetary Authority MMA) Dr.Azeema Adam have said that even with the global financial challenges, the financial situation in Maldives is improving.
Speaking at the opening ceremony of Commercial Bank of Maldives, Dr. Azeema said that despite the global financial challenges, Maldives has gained 13% in investments and 16% in financials, and this is noteworthy.
She further said that depsite, Maldives is a small nation, Maldives has accomplished a lot in the banking sector. She said even though the first commercial bank in Maldives was opened in 1974, now there are 8 banks and 5 insurance companies in Maldives. She also said that there are other financial corporations operating in the Maldives.
Dr.Azeema said that, even though there are few problems related to loans, the banks operating in Maldives are making more profit year by year. She said that this shows that the economy and financial condition of the country is improving.
She also highlighted the importance of providing financial services nation-wide even if it will not be an easy task.
Even with the global financial challenges, Maldivian financial condition is improving: MMA
