News Desk
The Majlis has approved Ahmed Munawar for the position of Governor of the Central Bank of the Maldives (MMA), following a unanimous vote by the PNC-majority House. Munawar, currently an advisor to the Finance Minister and a former Finance Minister himself, is set to succeed Ali Hashim, who was recently removed from office.
The decision to appoint Munawar comes after Parliament passed a resolution recommending Hashim’s dismissal. President Mohammed Muizzu acted swiftly on this recommendation, officially removing Hashim and proposing Munawar’s appointment on the same day. The parliamentary vote was supported by all 78 members present, with Vice-President Ahmed Nazim noting that Munawar received an average approval rating of over 70 marks.
Who is Ahmed Munawar:
Hashim’s removal has been attributed to criticisms of his performance during a challenging economic period, with the current administration arguing that he failed to provide effective economic guidance. The appointment of Munawar reflects the new government’s intent to address these economic issues with fresh leadership.
Since its establishment on July 1, 1981, the MMA has experienced frequent changes in its leadership. Munawar will be the fifth governor since 2018. Fazeel Najeeb, who served the longest recent term from October 2008 to December 2013, is now an ambassador in China.
The final step in the appointment process is for President Muizzu to formally appoint Munawar to the role. The MMA, responsible for regulating the Maldivian rufiyaa, issuing currency, and ensuring financial stability, will see Munawar join its six-member board with a salary set at MVR 66,000.
