Internet banking services facilitated for local councils

The Finance Ministry has issued Internet Banking authority to local councils.

A circular signed and issued by Finance minister Ibrahim Ameer said the ministry aims to streamline all work related to state finances. In this regard, internet banking services are imperative to improve council services, and the arrangement has thus been facilitated, the circular said.

Internet banking services were not previously used by local councils to carry out financial transactions. The arrangement was facilitated after establishing a special policy under the Public Finance Act, which has now been published in the Gazette. According to the policy, councils that wish to use internet banking may request for the service from Bank of Maldives via the designated application form.