The main objective of this work is to ensure the validity of trade-related financial transactions by strengthening the system for checking the information of imported goods through TT.
MMA
A Telegraphic Transfer (TT) Verification MoU has been signed between all banks operating in the Maldives and the Maldives Customs Service.
The MoU was signed at a ceremony held at the Maldives Monetary Authority (MMA) on 27 August 2026. Under this agreement, a system will be established between banks and the Maldives Customs Service to exchange information on business transactions conducted through banks regarding imports and exports of goods from the Maldives.
The main objective of this work is to ensure the validity of trade-related financial transactions by strengthening the system for checking the information of imported goods through TT.
The MoU was signed by Commissioner General of Customs Ms Fathimath Dhiyana on behalf of the Maldives Customs Service, and the CEOs and Managing Directors of each representative bank signed on behalf of the banks.
The MMA's Financial Intelligence Unit (FIU) will oversee the work.
