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Total Escrow Solutions awarded contract by the Maldives Monetary Authority

January 23, 2013

In May 2012 Total Escrow Solutions was selected by The Maldives Monetary Authority (MMA) to provide software escrow and technical verification services. Following the issue of a Worldwide RFP and extensive tender negotiations that involved competing parties on 3 continents the bid submitted by Total Escrow Solutions was considered to be the most cost effective and robust and resulted in Total Escrow Solutions being awarded a 10 year contract to provide escrow assurance and verification services for the Maldives Real Time Gross Settlement (MRTGS) solution. Later in 2012 following successful implementation of the software escrow solution for MRTGS, Total Escrow Solutions was then awarded a second 10 year contract to provide software escrow solutions and verification testing services for the Maldives Automated Clearing House (ACH) solution.

 

The award of these contracts demonstrates the capacity of Total Escrow Solutions to deliver extensive software escrow solutions to worldwide banking organisations. Innovative solutions are the foundation that has enabled Total Escrow Solutions to secure clients in Europe, Middle East, Asia, the Pac Rim and the USA.

 

About Total Escrow Solutions

Total Escrow Solutions is an ISO certified software escrow and verification services provider based in the UK. As a UK Government approved supplier and a registered to the G-Cloud I & G-Cloud II frameworks it works extensively with UK Central and Local government and hundreds of commercial organisations worldwide.

 

About the Maldives Monetary Authority

The MMA was established on 1st July 1981, and is endowed with the regular powers and obligations of a central bank under the mandate provided by the MMA Act (1981). To this effect, the MMA issues currency, regulates the availability of the Maldivian rufiyaa and promotes its stability, licenses, supervises and regulates institutions in the financial sector, formulates and implements monetary policy, and advises the Government on issues relating to the economy and financial system in order to foster an environment conducive to the orderly and balanced economic development of the Maldives.

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written by David Clee

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