Opposition MP Dr. Ahmed Shamheed has accused Maldives Monetary Authority (MMA) Governor Ahmed Munawar of acting unprofessionally after refusing to meet with a delegation from the Maldivian Democratic Party (MDP) Parliamentary Group.
The delegation visited MMA on Monday to raise concerns about the worsening dollar shortage and its impact on local businesses. However, Governor Munawar reportedly declined to meet the MPs, citing the absence of a prior appointment.
Dr. Shamheed, who represents the South Hulhumalé constituency, described the response as disrespectful and said it was unacceptable for the Governor to avoid accountability. He also noted that Munawar has failed to appear before Parliament to answer questions regarding the deteriorating foreign currency situation.
The Governor has also not responded to a letter sent by the MDP outlining urgent concerns, including the growing black market for dollars, difficulties faced by importers due to MMA’s policies, and reports that the government had requested the release of funds from reserves for a state project.
The MDP further criticized the ineffective implementation of the Foreign Exchange Act enacted earlier this year. The party blamed MMA’s decision to retain 90 percent of dollar revenue from tourism and foreign exchange businesses at the central bank — a move they say has left commercial banks struggling to meet importers’ dollar demands.
The MDP warned that if the situation is not resolved urgently, it could paralyze businesses and severely affect the state’s ability to obtain foreign currency.
The delegation visited MMA on Monday to raise concerns about the worsening dollar shortage and its impact on local businesses. However, Governor Munawar reportedly declined to meet the MPs, citing the absence of a prior appointment.
Dr. Shamheed, who represents the South Hulhumalé constituency, described the response as disrespectful and said it was unacceptable for the Governor to avoid accountability. He also noted that Munawar has failed to appear before Parliament to answer questions regarding the deteriorating foreign currency situation.
The Governor has also not responded to a letter sent by the MDP outlining urgent concerns, including the growing black market for dollars, difficulties faced by importers due to MMA’s policies, and reports that the government had requested the release of funds from reserves for a state project.
The MDP further criticized the ineffective implementation of the Foreign Exchange Act enacted earlier this year. The party blamed MMA’s decision to retain 90 percent of dollar revenue from tourism and foreign exchange businesses at the central bank — a move they say has left commercial banks struggling to meet importers’ dollar demands.
The MDP warned that if the situation is not resolved urgently, it could paralyze businesses and severely affect the state’s ability to obtain foreign currency.
