President appoints Munawar as central bank governor

President Mohamed Muizz on Wednesday appointed Ahmed Munawar as the governor of the Maldives Monetary Authority (MMA).

The appointment was made under the authority granted to the president in accordance with the Maldives Monetary Authority Act.

The ceremony to present the letter of appointment was held at the President's Office Wednesday morning.

Following the presentation, the president and the newly appointed governor held a meeting to discuss the country's economic situation. The president encouraged the governor to work closely with other financial institutions.

At the meeting, Munawar expressed his complete support for the government's efforts to stimulate the country's economy.

Munawar served as an advisor to the finance minister from December 12 until Wednesday. He has previously served as minister of finance.

Parliament on Tuesday passed the appointment of Munawar as the new governor of the central bank.

President Muizzu dismissed central bank governor Ali Hashim after parliament passed a recommendation to remove him from the post last week.

According to the MMA Act, the president can appoint a governor with the advice of parliament.

Parliamentary finance committee was informed for a third day last week that Hashim, who was ill, would not be able to attend the meeting.

Then governor was first given the opportunity to respond to the committee last week.

In a letter to the committee, Hashim said that the government has always been advised on the then situation to avoid an economic disaster and the current situation is because the authorities did not pay attention to the advice and guidance given by the central bank and international financial institutions.