Governor of the Central Bank, Maldives Monetary Authority (MMA), Dr. Azeema Adam has called on banks operated in Maldives to offer more affordable housing loans for the public. Addressing the inaugural ceremony of Maldives Financial Expo 2017 held at Dharubaaruge Convention Centre on Thursday, the Governor stated that banks need to offer more flexible and affordable housing loans to enable the public to purchase land and construct homes.
Noting that housing is the sector that has seen the most significant progress when it comes to national development, Dr. Azeema noted the importance of decreasing home construction expenditure. The Governor said that high prices of housing and construction is the biggest obstacle for the public to lead an easy life.
She highlighted the achievements made in the financial sector during the past three years, such as the opening of new commercial banks and insurance companies. She also referred to some of the modern changes brought to the country's payment system, such as automatic cheque clearance systems, the expansion of mobile payment and internet banking services.
Maldives Financial Expo 2017, organized by MMA is the second such event organized by the central bank. MMA said that the institution hopes to assist in expansion of the Maldivian financial sector through the event.