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No Open Banking

An archipelagic state in the Indian Ocean.

63% of people in the Maldives use the internet.

The majority, about 85%, have a bank account. The Maldives Monetary Authority (MMA) has developed a payments system to address the hurdles the island nation has over financial and payment services, part of its 2018-2022 strategic plan. In May 2022, the Bank of Maldives introduced its digital wallet. As yet, Open Banking has not become a priority.