Habib Bank Limited (HBL) Issues Notice Regarding Dormant Accounts
Habib Bank Limited (HBL) Male' has issued a public notice regarding accounts that have remained inactive for a period exceeding five years. In accordance with Section 35 of the Maldives Banking Act (Law No. 24/2010), the bank states it has made regular attempts to contact account holders through periodic statements and registered mail, without receiving a response.
Villa College Lays Foundation for New Polytechnic in Thulusdhoo
The development of a new Polytechnic Centre in Thulusdhoo has commenced with the laying of its foundation stone. This project marks a step towards expanding higher education opportunities in the Maldives. The ceremony was attended by representatives from both the government and the educational sector, including Villa College Rector Dr Ahmed Anwar and the Minister of Higher...
Dhiraagu ‘Win A Tesla’ Promotion: Lucky Draw Scheduled for June 17th
Dhiraagu has announced that the highly anticipated lucky draw for its "Win A Tesla" promotion will take place on June 17th, 2024, coinciding with Eid-ul-Adha.
The promotion, launched to celebrate the company's 35th anniversary, offers customers a chance to win a state-of-the-art Tesla electric car.
The promotion has proven popular,...
Gov’t Withdraws Tour Operator Bill
The Maldives government has withdrawn a proposed bill that would have mandated licensing requirements for tour operators providing services within the country.
Initially submitted by PNC MP Hassan Zareer on behalf of the government, the bill's first reading took place on the 12th of this month. However, due to a lack of quorum,...
Finance Ministry Reports Expenditure Surpassing Revenue in 2024 for the First Time
The government's expenditure exceeded its revenue in the current year for the first time. According to weekly statistics released by the Finance Ministry, expenditure stood at MVR 7.03 billion compared to a revenue of MVR 6.86 billion, as of the 7th of this month.
Recurrent expenditure remains a major contributor to total expenditure, amounting...
MPL Supports Fiyavathi Children’s Facility
Maldives Ports Limited (MPL) has donated 35 cases of tuna cans to the Fiyavathi State Care Facility for Children, demonstrating the company's commitment to social responsibility.
The donation was presented on Monday morning during a visit from MPL's Chief of Bureau, Aishath Shimla, General Manager Ahmed Saleem, and General Manager Ali Jaufar.
Gov’t Forms National Cyber Security Agency Amidst Heightened Tensions
The government has established the National Cyber Security Agency (NCSA) to combat rising digital threats. The President's Office, citing constitutional powers, mandated this initiative, which will operate under the jurisdiction of the Home Ministry.
This development comes amidst a backdrop of several cybersecurity incidents. Maldivian authorities recently cracked down on online criminal networks. Additionally,...
Funding for Hospitals Withdrawn, Government Claims Fund Rules Violated
The Health Minister, Dr Abdulla Khaleel, has revealed that the Kuwait Fund withdrew funding for hospital construction projects on several islands. This includes a 30-bed hospital in Shaviyani Milandhoo, which is now facing delays.
Khaleel attributed the withdrawal to a violation of the Kuwait Fund's rules, although the exact nature of the violation remains...
Maldives Surpasses Half a Million Tourist Arrivals in 2024
The Ministry of Tourism has announced a significant milestone: surpassing 500,000 tourist arrivals since the start of 2024. As of March 17th, a total of 513,377 tourists have visited the island nation, demonstrating a continued robust recovery in the tourism sector.
China has emerged as the top source market for the Maldives, with 60,699...
MACL Partners with RDC for VIA Roadworks
The Maldives Airports Company (MACL) has entered into an agreement with the Road Development Corporation (RDC) to execute road construction works within Velana International Airport. This marks the first time MACL has contracted a Maldivian company for a project of this nature.
The agreement will see RDC responsible for the construction, repair, and resurfacing...
Hoadedhdhoo Council Announces Resort Development Opportunity on Kandevarehaa Island
The GDh. Hoadedhdhoo council has announced plans to develop an integrated tourist resort on the island of Kandevarehaa. The council has opened bidding for interested parties, marking a significant step toward expanding tourism in the region.
Potential bidders can purchase the bid book and obtain further details between the 31st of March and the...
Villa College, Maafushi Island Council Signs MoU to Offer Scholarships
Villa College and the Maafushi Island Council have inked a Memorandum of Understanding (MoU) aimed at advancing higher education and training on the island.
Representing Villa College, Vice-Rector Dr. Ali Najib sealed the agreement, while President Hassan Salah signed on behalf of the Maafushi Council at a ceremony held in Maafushi on 14th March.
Gov’t Prioritizes Budgeted Projects Amid Allegations of Stalled Development
Finance Minister Dr. Mohamed Shafeeq has clarified the government’s stance on infrastructure development projects, addressing concerns raised by the opposition and official statistics regarding Public Sector Infrastructure Program (PSIP) spending.
Minister Shafeeq emphasized that the government’s decision to halt spending on certain infrastructure projects was a strategic move to prioritize budgeted initiatives. While allegations...
Maldives-India Meeting Advances Economic Development and Cooperation
The third meeting of the High-Level Core Group between the Maldives and India took place yesterday, March 17th, 2024, in Malé, Maldives. A key focus of the meeting was on progress in economic development initiatives and broader cooperation between the two nations.
The highlight of the meeting was the ongoing replacement of Indian military...
STO Announces Opening for Board Directorship
The State Trading Organization (STO) announced on Sunday that applications are now open for a position on the corporation's Board of Directors. The directorship term will run from 2024 to 2025 in accordance with STO's Memorandum of Association (MOA).
The MOA outlines the appointment of seven directors: one to represent general shareholders and six...
BCC Announces Webinar on Business Structures
The Business Center Corporation (BCC) has unveiled a new webinar designed to guide entrepreneurs through the various types of business structures available in the Maldives.
Entitled "Forms of Business," the webinar is slated for Monday, March 18, 2024, from 10:00hrs to 11:00hrs.
The BCC states that this webinar will offer...
President Muizzu Addresses Pension Reform During Public Forum
President Dr Mohamed Muizzu has reaffirmed his commitment to improving the pension scheme in the Maldives. The President's statement came during the "Raees ge Javaab" series, a platform for citizens to engage directly with the leader on various issues.
A citizen raised concerns regarding the ease of accessing pension funds after retirement. President Muizzu...
“Favara” Instant Payment System Transfer Limit Increased
The Maldives Monetary Authority (MMA) has announced a significant increase in the transfer limit for the "Favara" instant payment system, a component of the Maldives Payment System Development project.
Effective today, users can transfer up to MVR 200,000 between banks through Favara, a substantial increase from the previous limit of MVR 50,000. Additionally,...
Insurance Sector Disburses MVR 615.7 Million in Claims During 2023
The release of new data by the Maldives Monetary Authority (MMA) indicates that insurance companies disbursed MVR 615.7 million in claims throughout 2023. This figure highlights the crucial role insurance plays in providing financial security for individuals and businesses.
Health insurance constituted the primary category for claims in 2023, with insurers paying out MVR...
“Ras’Ain” App Launched to Support Fishermen and Maritime Safety
A new mobile application called "Ras'Ain" has been launched in the Maldives, providing essential tools and information for fishermen and vessels operating within the country's waters. The app was officially unveiled during the inauguration ceremony of the National Defense Force Air Force.
Designed to streamline operations and enhance safety, the "Ras'Ain" app offers a...
MCC Fines Market Stall Owners for Employing Foreigners Without Permits
The Male' City Council has imposed fines on nine stall owners operating in the Travelers Market for employing foreigners without the necessary work permits. This action comes as concerns mount over the increasing number of undocumented foreign workers in the Maldives.
In March, the city council levied fines totalling USD 129 for initial offences....
Immigration Deports Foreign Nationals Exploiting Dollar Shortage
Maldives Immigration has taken decisive action against foreign nationals implicated in the country's persistent dollar black market. Controller of Immigration Mohamed Shamaan Waheed, in an official statement, confirmed the launch of deportation proceedings following a targeted operation conducted jointly with the Maldives Police Service (MPS). Authorities acted on intelligence reports of foreign nationals engaging in illegal dollar...
IASL Launches Seaplane Air Ambulance
Island Aviation Services Limited (IASL) has launched a new air ambulance service utilising seaplanes to enhance access to urgent medical care, especially for residents of the archipelago's more remote islands. The service began operations on March 1st, with a Dash-8 aircraft initially transporting 25 patients. As of March 15th, the service transitioned to seaplanes equipped with modern...
Surveillance in the Maldivian Economic Zone: A Balancing Act Between Security and Prosperity
The Maldives' Exclusive Economic Zone (EEZ), a vast swath of the Indian Ocean, is a region of both economic potential and security concerns. In a move to strengthen its surveillance capabilities, the Maldives National Defence Force (MNDF) has recently unveiled Unmanned Aerial Vehicles (UAVs), commonly known as drones. These are the Bayraktar TB2 drones intended for patrol...