MMA Publishes Landmark Book on the History of Maldivian Currency

The Maldives Monetary Authority (MMA) has launched a commemorative book titled “History of Maldivian Currency.” The publication was unveiled during the MMA Research Conference on November 17, 2025.

Authored by esteemed historian Ahmed Shakir (Kashima Shakir), the book is described as the most comprehensive work ever produced on Maldivian currency and its evolution. Spanning 252 pages, it traces the origins of money in the Maldives, beginning with the early barter system and other traditional forms of exchange. The book also provides readers with broader context by presenting an overview of the origins and development of global currency systems, illustrating how international monetary practices influenced trade in the Maldives.

A significant portion of the publication focuses on the historical transformation of Maldivian currency. It details where coins were minted during various periods, how Maldivian currency was used in global trade, and how its value shifted over time. The book further highlights the contributions of Maldivian artists involved in the design and production of coins, showcasing the cultural and artistic heritage behind the nation’s monetary identity.

The publication also documents the foreign currencies once used in business transactions in the Maldives and outlines the commemorative coins issued to mark important national events. Rich with rare images and photographs of coins and notes, the book offers a visually engaging complement to its historical narrative.

Although the MMA published a book on Maldivian currency in 1983, this new work provides substantially more detail and presents updated research. Governor Ahmed Munawar expressed his appreciation to all who contributed to the project and acknowledged former Governor Azeema Adam for initiating and laying the foundation for the work.

Governor Munawar noted that the publication marks a significant milestone in the MMA’s strengthened efforts since 2024 to produce more research-based materials. He described the book as an important addition to the institution’s growing collection of scholarly and historical works.