President Dr. Mohamed Muizzu has appointed Ahmed Munawar as the new Governor of the Maldives Monetary Authority (MMA).

The appointment, made under the Maldives Monetary Authority Act 1981 (Act No. 6/81), was formalized during a ceremony at the President's Office this morning.

This decision follows the removal of former Governor Ali Hashim on July 22nd, prompted by a motion from Deputy Speaker of Parliament and Dhiggaru MP Ahmed Nazim, who cited Hashim's inadequate performance in fulfilling his responsibilities.

Munawar's nomination was reviewed by the Finance Committee, which opened the process to public comments before endorsing his appointment.

The People’s Majlis unanimously approved his appointment on Tuesday, with all 78 members voting in favor.

Following the official presentation of his appointment letter, President Dr Muizzu and Governor Munawar held a meeting to discuss the nation's economic situation.

President Dr. Muizzu  emphasized the importance of collaboration with other financial institutions, and Munawar expressed his full support for the government's economic initiatives.

Ahmed Munawar previously served as an advisor to the Minister of Finance from December 12, 2023, to July 22, 2024, and has held the position of Minister of Finance in the past.