Publication:
The National Payment Systems Oversight Framework for the Maldives Monetary Authority

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dc.contributor.authorWorld Bank Group
dc.date.accessioned2019-10-23T20:55:55Z
dc.date.available2019-10-23T20:55:55Z
dc.date.issued2019-09
dc.description.abstractThis report aims at assisting Maldives Monetary Authority (MMA) to establish an effective oversight framework to monitor the different payment and settlement systems, payment instruments and payment service providers in the Maldives. The framework for oversight is based on the Bank for International Settlement-International Organization of Securities Commissions (BIS-IOSCO) 24 principles and analyzing the payments development in the Maldives, while emphasizing the importance of overseeing several critical aspects of payment systems which are not within the radar of the present oversight unit. The BIS-IOSCO principles that are specifically on oversight function are set out in section one. Section two discusses the background and the present payment landscape, legal status, and critically review the present oversight arrangement by MMA, its mandate and suggest areas of improvement for an improved and effective oversight function. Section three outlines the present and future challenges for payment and settlement oversight unit (PSSOU) and provides guidelines to overcome some of the challenges. Section four sets out recommendations to be adopted by PSSOU and section five articulates the most urgent tasks that should be undertaken by PSSOU and MMA to ensure an effective oversight on the national payments system (NPS) in the Maldives.en
dc.identifierhttp://documents.worldbank.org/curated/en/986521571312012544/The-National-Payment-Systems-Oversight-Framework-for-the-Maldives-Monetary-Authority
dc.identifier.doi10.1596/32616
dc.identifier.urihttps://hdl.handle.net/10986/32616
dc.languageEnglish
dc.publisherWorld Bank, Washington, DC
dc.rightsCC BY 3.0 IGO
dc.rights.holderWorld Bank
dc.rights.urihttp://creativecommons.org/licenses/by/3.0/igo
dc.subjectPAYMENT AND SETTLEMENT SYSTEM
dc.subjectSYSTEMIC RISK
dc.subjectFINANCIAL OVERSIGHT
dc.subjectINTERNATIONAL FINANCIAL STANDARDS
dc.subjectREGULATION
dc.subjectFINANCIAL SUPERVISION
dc.titleThe National Payment Systems Oversight Framework for the Maldives Monetary Authorityen
dc.typeReporten
dc.typeRapportfr
dc.typeInformees
dspace.entity.typePublication
okr.crossref.titleThe National Payment Systems Oversight Framework for the Maldives Monetary Authority
okr.date.disclosure2019-10-17
okr.doctypeEconomic & Sector Work::Financial Sector Assessment Program
okr.doctypeEconomic & Sector Work
okr.docurlhttp://documents.worldbank.org/curated/en/986521571312012544/The-National-Payment-Systems-Oversight-Framework-for-the-Maldives-Monetary-Authority
okr.guid986521571312012544
okr.identifier.doi10.1596/32616
okr.identifier.externaldocumentum090224b0871dddeb_1_0
okr.identifier.internaldocumentum31476981
okr.identifier.report142673
okr.importedtrueen
okr.language.supporteden
okr.pdfurlhttp://documents.worldbank.org/curated/en/986521571312012544/pdf/The-National-Payment-Systems-Oversight-Framework-for-the-Maldives-Monetary-Authority.pdfen
okr.region.administrativeSouth Asia
okr.region.countryMaldives
okr.sectorFinancial Sector
okr.topicFinance and Financial Sector Development::Financial Regulation & Supervision
okr.topicFinance and Financial Sector Development::Payment Systems & Infrastructure
okr.unitEFI-SAR-FCI-Finance-1 (ESAF1)
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