Ooredoo and Dhiraagu given license under the National Payment System Act for the first time

Ooredoo and Dhiraagu have been granted the license to provide payment services in the Maldives for the first time under the National Payment System Act.

Maldives Monetary Authority (MMA) has granted Ooredoo a licenseto issue electronic money and a license to issue remittances. Dhiraagu was granted a license to issue electronic money. 

However, MMA stated that with the new license, the license to provide mobile payment services issued to Dhiraagu and Ooredoo will be revoked. The remittance service issued to Ooredoo is designed to send money abroad through Ooredoo m-Faisaa. 

MMA further stated that the authority is working to facilitate the provision of many payment services to the public through a single network as part of its efforts to further strengthen and develop the national payment system in the future.

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Ibrahim Yaafiu

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