Central bank dismisses advisers and ends advisory roles

The Maldives Monetary Authority (MMA) on Tuesday dismissed the advisers to the governor and abolished the advisory posts.

The decision affects advisers to MMA Governor Ahmed Munawwar. Those dismissed are Mariyam Hussain Didi, Idham Hussain and Mariyam Shifa. Mariyam Hussain Didi had served at the MMA for more than 25 years.

The MMA has not issued an official statement on the matter.

However, a bank official said the decision to dissolve the advisory positions was taken on the grounds that the advice provided was not meeting expectations and that the roles were not considered necessary at present. The official said the positions cost MVR 2.4 million annually.

According to information received, the MMA board offered two options to the affected advisers: to continue employment for three months followed by departure with an additional three months’ salary, or to accept immediate termination with six months’ salary and allowances paid at once.