The Parliament has approved the nomination of the former Minister of Finance Ahmed Munawwar for the Governor position of the Maldives Monetary Authority (MMA). The approval was given with the unanimous votes of 78 parliamentarians, after Munawwar was interviewed by the Public Accounts Committee. Munawwar scored an average of 94.73 marks in the interview, hence gaining the approval of the committee, who saw him capable of serving as the MMA Governor.
President Dr. Mohamed Muizzu sent Ahmed Munawwar's name seeking parliamentary approval on July 22, following the dismissal of Ali Hashim, who served as the MMA Governor. The decision was taken by the president, with the recommendation of the Parliament. The president has the authority to remove the Governor of the MMA based on the advice of Parliament, according to the constitution.
Hashim was dismissed as the committee found that he had not been performing his duties effectively as governor, particularly at a time when the government was raising funds from the domestic market and required effective regulation. Hashim was appointed to the position of MMA Governor on September 8, 2019.
Following Hashim’s dismissal from the post, President Dr. Muizzu recommended the name of Munawar. He currently serves as the Advisor to the Minister of Finance and had served MMA from 1999 to 2013 at various positions. He also served as the state minister of finance from 2014 to 2016 and as the finance minister from 2016 to 2018.
In addition to Munawwar's remarkable experience, he also has vast knowledge in the financial sector. He studied Bachelor of Economics from the International Islamic University in Malaysia and graduated with honours. He then completed his Master's in Economics from Macquarie University in Australia.
Speaking at the committee, Munawwar revealed his vision of strengthening the financial sector of the nation, ensuring it is the top in the field at a regional level during his tenure. He also disclosed his ambitious goal of increasing the productivity of the financial sector. He further stated that he will prioritise the needs of the state and will also submit his resignation, if such a situation arises.