Significant changes have been brought to the organizational structure of the island nation’s central bank, Maldives Monetary Authority (MMA).

The decision to bring these major changes was reached by the MMA Governor, following discussions with the company’s board.

Speaking to RaajjeMV, an official at MMA revealed that these changes would lead to strengthened efforts by the bank to pave the path for efficiency and positive results as well as enhanced operations

Among the changes in the MMA structure include changing the post of Assistant Governor to that of Managing Director.

The existing assistant governors have been promoted to the rank of advisers.

The MMA official noted that with these changes, the newly introduced post of Managing Director has been altered to one that will be selected for two terms of five years, in a bid to expand the scope of the educated and experienced people working at the central bank.

Further, the official stated that those working at MMA as well as members of the general public can apply for these positions.

MMA highlighted that this will not only open up new avenues for the existing qualified employees of MMA but also open up opportunities for technically qualified people to have employment opportunities at the central bank.