Munawwar Approved as Central Bank Governor, Vows to Uphold Principles

The decision came after a two-hour interview on Monday, where Munawwar emphasized his commitment to maintaining his principles and not blindly following government directives.

Munawwar, who also serves as an advisor to the finance minister, assured the committee that he would resist any government actions he deemed harmful to the country, even if it meant resigning. He stressed his opposition to the practice of printing money at the government's request, except in extraordinary circumstances like the COVID-19 pandemic, and highlighted his track record of sticking to his principles.

During the interview, Munawwar expressed his ambition to elevate the Maldives' financial sector to the top in the region. He proposed doubling the sector's contribution to GDP from 6% within five years and emphasized the importance of attracting regional investments and talent to achieve this goal. He also mentioned plans to strengthen the Financial Intelligence Unit and suggested that existing laws need to be strategically amended to support these initiatives.

Munawwar's responses were well-received by the committee, earning him over 70 marks and unanimous approval for his appointment.