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In a significant step towards strengthening the nation’s digital financial ecosystem, digital wallet service, m-Faisaa, has officially received an Inward Remittance License from the Maldives Monetary Authority (MMA).
The license marks a major milestone in Ooredoo’s journey to expand its fintech offerings, enabling seamless, secure, and convenient cross-border money transfers directly to mFaisaa wallets.
At a special ceremony held at the Maldives Monetary Authority, the license was officially handed over by MMA Governor Ahmed Munawwar to Ms. Fatima Al Kuwari, Board Member of Ooredoo Fintech Maldives and Chairman of Ooredoo Maldives and Mr. Khalid Al-Hamadi, Chief Executive Officer of Ooredoo Maldives.
Receiving the license paves the way for mFaisaa to further empower individuals, especially freelancers, small business owners, and families who rely on international transactions for income and support. With inward remittance capabilities, users will soon be able to receive funds from abroad directly into their mFaisaa wallets, eliminating the need for intermediaries and offering greater flexibility in managing their finances.
Speaking at the event, Mr. Khalid Al-Hamadi, CEO & Managing Director of Ooredoo Fintech Maldives, said:
The new license reinforces Ooredoo’s long term commitment to supporting the Maldives Monetary Authority’s vision for a cash-lite, digitally enabled economy. With mFaisaa’s growing ecosystem of services, from bill payments and merchant QR transactions to domestic transfers and soon international remittances, Ooredoo continues to expand its role in the nation’s digital transformation. Together, these services are helping build a smarter and more connected Maldives
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