Maldives Monetary Authority (MMA) Governor Ahmed Munawwar has met with Sanjay Malhotra, Governor of the Reserve Bank of India (RBI), in New Delhi, India.

The meeting took place on the sidelines of Samvaad 2026, a seminar organised by the Reserve Bank of India.

During the meeting, Governor Munawwar expressed his appreciation to the RBI for facilitating the first rollover of the INR 30 billion currency swap facility extended to the Maldives.

The two governors also discussed efforts to expand the linkage between the Maldives’ FahiPay and India’s Unified Payments Interface (UPI), which was launched on July 30 this year.

They further discussed the planned introduction of a person-to-merchant payment service, scheduled for the first half of next year.

According to the MMA, the service is expected to make commercial transactions more convenient for Indian tourists visiting the Maldives.

The authority also highlighted that expanding these payment services would strengthen cooperation between the two countries’ central banks and further enhance bilateral trade and economic ties.