This follows the pre-operational approval granted on 19 May 2025 for the establishment of a Tier 1 bank, subject to the fulfilment of all licensing and pre-operational requirements to the satisfaction of MMA.
MMA
The Maldives Monetary Authority (MMA) has granted banking licence and operational approval to Maldives Premier Bank Private Limited on 18 May 2026, authorising commercial banking activities in the Maldives in accordance with applicable laws and regulations.
This follows the pre-operational approval granted on 19 May 2025 for the establishment of a Tier 1 bank, subject to the fulfilment of all licensing and pre-operational requirements to the satisfaction of MMA. During the pre-operational phase, revisions to the proposed name of the institution and ownership structure were submitted and subsequently approved by MMA. The licensing of Maldives Premier Bank marks an important milestone in ongoing efforts to further strengthen and deepen the Maldivian financial sector, enhance competition within the banking industry, and support broader access to financial services in the country.
MMA remains committed to maintaining a sound, stable, inclusive, and competitive financial system through a robust licensing and supervisory framework.
