MMA Grants Operating License to Dhiraagu Fintech

The Maldives Monetary Authority (MMA), the country’s central bank, has granted an operating licence to Dhiraagu Fintech Private Limited, a subsidiary of the telecommunications company Dhiraagu.

https://x.com/MMA_Maldives/status/1825845841938231738

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In a statement issued yesterday, the MMA announced that the licence authorises Dhiraagu Fintech to provide payment services, including those required for electronic money issuance, in accordance with the National Payment System Act.

The central bank further noted that Dhiraagu will now transfer its existing electronic money issuance services to its fintech subsidiary.

Dhiraagu currently operates digital wallet services under the brand Dhiraagu Pay, which enables customers to make payments for goods and services, deposit funds, and transfer money between individuals, regardless of their mobile network or device.