MMA restructure dissolves advisor posts

With fresh changes to the organizational structure of central bank, Maldives Monetary Authority (MMA), the Board has decided to dissolve the post of 'advisor'. 

With this, three individuals currently filling the post of 'advisor' at the MMA have been given notice in accordance with the Employment Act. 

Although MMA is yet to comment on the decision, it has been reported that MVR 2.4 million is currently being spent on salaries and allowances for these three advisors.

Reports suggest that the three advisors were given two options.

The first option is to remain in post for three month, and then dissolve the post after providing salary and allowance for an additional three months, as per Article 21(f) of the Employment Act.

The second option is, Under Article 25 of the Employment Act, to provide 6 months' salary and allowance in lieu of a notice period, and dissolve the post.

An informed source said MMA decided to dissolve the posts after advisors failed to provide Governor Ahmed Munavvar with the necessary guidance, making the roles redundant.