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...
Maldivian Launches Promotional Fares Across Domestic Routes
Maldivian, has unveiled promotional fares across all domestic routes, effective from March 17, 2024. These discounted fares aim to provide passengers with enhanced affordability and accessibility when traveling within the Maldives.
The promotional fares are now available for purchase through Maldivian's website and mobile application. Passengers can take advantage of these exclusive rates to...
Parliament Targets Real Estate Sector Reform with New Legislation
The parliament convened on Wednesday to discuss longstanding issues within the country's real estate sector. Introduced by Thoddoo MP Hassan Shiyan, the 'Real Estate Business Bill' seeks to address these issues and promote sustainable growth within the industry.
At the heart of the proposed legislation lies a commitment to promoting accountability, transparency, and development...
MPL Launches Sea-to-Air Transshipment
Maldives Port Limited (MPL) has unveiled a new sea-to-air cargo transshipment service, transforming regional freight logistics. The initiative promises streamlined, sustainable processes for businesses throughout the region.
MPL has announced accompanying tariffs, with 20ft containers priced at USD 654.13 and 40ft containers at USD 812.71.
“We've identified high demand for expedited...
Report: MTCC Expansion, a Double-Edged Sword for the Maldives’ Economy
The proposed expansion of the Maldives Transport and Contracting Company (MTCC) reveals a complex tension within the nation's economy. The state-owned enterprise, boasting a rare record of profitability, seeks to diversify its portfolio. Yet, entering sectors fraught with the failures of past government ventures raises concerns about MTCC's financial stability and the broader implications for the Maldives'...
MIRA Sees Increase in Zakat al-Mal Collections
Zakat al-mal collections in the Maldives rose by 16.7% in February compared to the same period last year, according to figures released by the Maldives Inland Revenue Authority (MIRA). Collections for February totalled MVR 5.8 million, surpassing the MVR 5 million collected during the same month in 2023.
Zakat al-mal (zakat on wealth) is...
BCC Joins oneGov Platform, Paving the Way for Enhanced Services
The Business Center Corporation (BCC) has become the first Maldivian corporation to integrate its services into the oneGov cross-agency platform alongside government entities. The move promises improved service accessibility and convenience for citizens and businesses alike.
The integration was formalized during a special ceremony held at TradeNet on Wednesday, March 13, 2024. BCC’s Managing...
SBI Issues Notice Regarding Dormant Accounts
The State Bank of India (SBI) has issued a public notice in the Gazette addressing the status of dormant accounts, as mandated by the Maldives Banking Act of 2010. Under the law, accounts are classified as dormant after five years of inactivity, meaning no customer-initiated transactions or communication with the bank.
SBI urges customers...
President Muizzu Vows to Address Health Insurance Challenges
In a recent public engagement series titled “Raees ge Javaab,” President Dr Mohamed Muizzu made a resolute commitment to tackle the obstacles hindering private individuals’ access to health insurance services. The interactive platform allowed citizens to directly voice their concerns, and one recurring issue stood out: the difficulties faced by private citizens in obtaining health insurance efficiently.