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Country Commercial Guides for
FY 2000: Maldives

Report prepared by U.S. Embassy Colombo, Sri Lanka, released July 1999
  Note*

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CHAPTER VII

TRADE AND PROJECT FINANCING

Four commercial banks operate in the Maldives. These banks follow normal international banking practices and offer Letter of Credit (LC) facilities and other financing, primarily serving the tourism sector and import-export trade. LC's form the basis for most trade. Banking is regulated by the Maldives Monetary Authority, which acts as the Central Bank.

Terms of payment are negotiable between importer and supplier. Singaporean traders reportedly offer very attractive credit terms (by some accounts, 12 to 18 months, as compared to the more standard 6 months) to Maldivian customers.

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Note* International Copyright, United States Government, 1999. All rights under foreign copyright laws are reserved. All portions of this publication are protected against any type or form of reproduction, communications to the public and the preparation of adaptations, arrangement and alterations outside the United States. U. S. copyright is not asserted under the U.S. Copyright Law, Title 17, United States Code.

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