Question

    South Korean government bonds would represent 2.22 per cent of the index on a market value-weighted basis and would be included in the FTSE's WGBI beginning in November 2025.  

    A Maldives National Bank Correct Answer Incorrect Answer
    B Maldives Tourism Ministry Correct Answer Incorrect Answer
    C TradeNet Maldives Corporation Correct Answer Incorrect Answer
    D Ministry of Foreign Affairs Correct Answer Incorrect Answer
    E Monetary Authority of Maldives Correct Answer Incorrect Answer

    Solution

    Maldives President Mohamed Muizzu has announced a major step to help the country’s economy by introducing India’s Unified Payments Interface (UPI). UPI, developed by the National Payments Corporation of India (NPCI), allows quick and easy money transfers between banks using mobile phones. To manage the introduction of UPI, President Muizzu has set up a group led by TradeNet Maldives Corporation Limited. This group, or consortium*, will bring together Maldivian banks, telecom companies, state-owned enterprises, and financial technology (fintech) firms to help roll out UPI nationwide.

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