In an interview to Haveeru, MMA ’s Governor Dr Azeema Adam revealed they are working to set up an international bank alongside Sri Lanka’s Commercial Bank of Ceylon. However, she did not specify details. Dr Azeema said they are currently at the final stage of issuing the licence for Commercial Bank. “We don’t want a litany of small-scale banks, but rather a few high quality ones. However, I don’t want to comment on an exact number at the moment. We’re aware that the current banks are unable to cater sufficiently to the banking sector,” she said. The governor said MMA will look into the type and necessity of the bank for license issue. The international banks currently in operation in the Maldives are State Bank of India, Habib Bank Limited, Bank of Ceylon, Hong Kong and Shanghai Banking Corporation (HSBC) and Mauritius Commercial Bank (MCB), which was the most recently licensed.