Commitment
Review Current Lending Regulations to Identify Current Restraints Faced by SMEs
Source
SAP
Reference
3.3b
Date Updated
Apr 10, 2023
0
Fully Realized
Mechanism for Realization
Budget
100%
Realization
• References to existing policies of current lending regulations: 1) Regulation on Capital Adequacy: https://www.mma.gov.mv/documents/Laws/Regulation%20on%20Capital%20Adequacy%20(english).pdf 2) Regulation on Single Borrower and Large Exposure Limits: https://www.mma.gov.mv/documents/Laws/Regulation%20on%20Single%20Borrower%20and%20Large%20Exposure%20Limits%20(english).pdf • Details of reviews conducted on current lending regulations (during 2019, 2020, and 2021): The lending regulations have no constraints on lending to SMEs or female entrepreneurs according to MMA The lending regulations have no constraints on lending to SMEs or female entrepreneurs.

The Strategic Action Plan (SAP) is the 2018 administration’s integral referencing point to steer Maldivian development efforts slated for the time period of 2019 – 2023. The SAP is comprised of 5 main priority areas: Blue Economy, Caring State, Dignified Families, Jazeera Dhiriulhun, and Good Governance. Each area has a multitude of different steps and actions to reach completion and are time-bound to ensure accountability and transparency to the public. 

Women & Democracy’s core focus areas can be found in the last area of the SAP, Good Governance. Under the area’s subsection 5.6 Gender Equality, our research dove deep into Strategy 1.3: Increase the role of women in decision making levels, Strategy 3.1: Ensure that women are economically empowered, and Strategy 3.3: Improve access to credit and financial mechanisms for female entrepreneurs. 

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