AGP Executive Report
Last update: 25 minutes agoCross-border payments: The Maldives Monetary Authority has gone live with the Favara-UPI corridor, letting people in the Maldives send real-time P2P transfers to UPI-enabled bank accounts in India via mobile banking. The service starts with Bank of Maldives and Maldives Islamic Bank, with transfers initiated in MVR and credited in INR, initially for permitted remittance categories like family maintenance and gifts. Banking leadership: Bank of Maldives CEO Mohamed Shareef was appointed Chairman of the Asian Bankers Association, becoming the first Maldivian to lead the regional body. Telecom transition: Dhiraagu CEO Ismail Rasheed retired after nearly four decades, with Valdemar Ferradaz taking over as CEO. Trade & food exports: APEDA facilitated the first air shipment of Karnataka’s Neelam and Totapuri mangoes to the Maldives, a milestone aimed at opening new late-season export opportunities for farmers and women-led exporters. Sovereignty & law: President Dr. Muizzu said the Maldives will pursue recovery of lost maritime territory in the southern waters through international legal channels, including setting up a specialized commission.
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