M.H.A. Private Limited Launches MVR 30 Million Parallel Istisna’ Sukuk to Finance Hulhumale’ Promenade Project
M.H.A Private Limited, one of the leading FMCG distributors in the Maldives, has officially launched its MVR 30 million Parallel Istisna’ sukuk to finance M.H.A promenade project in Hulhumale’.
Structured as a five-year amortised Shariah-compliant sukuk, the issuance is listed on the Viyana board of the Maldives Stock Exchange. The sukuk offers an attractive...
Dhiraagu Backs BVISM to Boost Inclusion in Shaviyani Atoll
Dhiraagu has extended its support to the Blind and Visually Impaired Society of Maldives (BVISM) as part of its corporate social responsibility efforts aimed at empowering vulnerable communities. The partnership will help BVISM carry out a series of community engagement sessions across Shaviyani Atoll.
The non-governmental organisation, which advocates for the rights and well-being...
June Breaks the Off-Season Mould as Tourist Arrivals Climb
Tourist arrivals to the Maldives rose by 15 percent in June 2025 compared to the same month last year, with 141,772 visitors recorded over the 30-day period. The steady climb in numbers bucks the usual trend of a quieter off-season and signals continued strength in the country’s flagship sector.
With daily arrivals averaging around...
At FfD4, Maldives Pushes for Equity in Global Finance and Resilience Building
Vice President Hussain Mohamed Latheef has called for urgent reforms to the international financial system, highlighting the structural barriers faced by Small Island Developing States (SIDS) like the Maldives. Delivering the Maldives’ plenary statement at the Fourth International Conference on Financing for Development (FfD4) in Seville, Spain, the Vice President stressed the importance of equitable access to...
MMA Opens Applications for 2025 Tamweel Islamic Finance Scholarships
The Maldives Monetary Authority (MMA) has opened applications for its 2025 Tamweel Islamic Finance Scholarship, offering a range of fully and partially funded opportunities for Maldivians seeking to pursue studies in Islamic finance.
Introduced as part of MMA’s broader Islamic Finance Initiative, the scholarship aims to strengthen the domestic capacity of the sector through...
Maldives Declares ‘Project Solar City’ as First Special Economic Zone
President Dr Mohamed Muizzu has declared “Project Solar City” as the Maldives’ first Special Economic Zone (SEZ), following the issuance of Presidential Decree No. 1/2025 earlier this year. The move introduces a new legal and investment framework under the Special Economic Zones Act (Act No. 24/2014).
An Investment Agreement has been signed between the...
TGST Hike Comes into Effect: Tourism Sector Now Subject to 17% Rate
The Tourism Goods and Services Tax (TGST) in the Maldives has officially increased from 16 percent to 17 percent as of today, 1 July 2025. The change, part of the Seventh Amendment to the Goods and Services Tax Act, was ratified in November 2024 and applies to all tourism sector businesses including resorts, hotels, guesthouses, restaurants, liveaboards...
Diversifying Dollar Access: MIB’s Untapped Potential to Serve Maldivians
For years, the Bank of Maldives (BML) has carried the burden of being the country’s primary source of US dollar services for citizens. In a nation heavily reliant on imports and outbound transactions, the demand for dollars touches every corner of daily life. Students paying overseas tuition fees, families seeking medical treatment abroad, and migrant workers sending...
Maldives Signs Investment Residency Deal: What It Means for the Economy
The Government of Maldives has signed an agreement with global investment migration firm Henley & Partners to establish the country’s first-ever residence by investment programme. The deal was signed on the sidelines of the Maldives–Singapore Business Forum 2025, held at Sentosa Island, Singapore.
The new programme is part of the government’s efforts to draw...
Solar City, Residence by Investment Programme Among Key Deals at Business Forum
The Maldives–Singapore Business Forum 2025, held at Capella Singapore, brought together over 200 delegates, including high-ranking government officials, international investors, and leading executives from both countries. As part of President Dr Mohamed Muizzu’s ongoing state visit to Singapore, the event highlighted the Maldives’ ambition to emerge as a premium investment destination in the Indian Ocean.
PCB Appoints Directors to Support State-Backed Development Bank
The Privatisation and Corporatisation Board (PCB) has appointed four members to the Board of Directors of the newly established Development Bank of Maldives Limited. The appointments, made on 29 June under the governing legislation on state-owned enterprises, mark a key step in operationalising the institution.
The new board members are Hassan Miras, Ahmed Azyan...
Sargsyan to Oversee IFC and MIGA Operations in Maldives as World Bank Group Consolidates Presence
Gevorg Sargsyan, who has been serving as the World Bank Country Manager for the Maldives since 2023, has now assumed an expanded portfolio, overseeing all arms of the World Bank Group operating in the country. This includes the International Finance Corporation (IFC) and the Multilateral Investment Guarantee Agency (MIGA), marking a shift towards unified leadership in supporting...
Thilamalé Bridge Reaches Key Milestone with Piling Phase Finished
The Thilamalé Bridge project has passed a critical juncture with the completion of its piling works, marking significant progress in one of the Maldives’ most ambitious infrastructure undertakings. According to the Ministry of Construction, Housing and Infrastructure, this phase was the most technically demanding element of the project, and its conclusion brings overall completion to just over...
President Muizzu, Singapore Leaders Chart Future of Bilateral Ties
President Dr Mohamed Muizzu and First Lady Sajidha Mohamed were formally welcomed in Singapore yesterday, as part of the President’s ongoing state visit to commemorate five decades of diplomatic relations between the Maldives and Singapore.
The ceremonial reception took place at the Ministry of Foreign Affairs, where the couple was received by Singaporean President...
Architecture That Breathes: How Aséria Balances Climate and Comfort
Situated on the northeastern edge of Hulhumalé, Aséria is emerging as a true architectural marvel in the Maldives. With strong interest from discerning clients, the project is set for completion by May 2027. The name Aséria, derived from “Aseri” meaning shore or coast, and “Hiyaa” meaning haven, reflects a carefully chosen name for this exceptional residential community.
Maldives Halal Travel Wraps Up Major Campaigns in Bosnia, Malaysia, and the Philippines
Maldives Halal Travel has concluded three major destination marketing campaigns across Bosnia and Herzegovina, the Philippines, and Malaysia, wrapping up the initiative on 20 June 2025. The campaign also marked the launch of the fourth edition of the Maldives Halal Travel Magazine, a significant milestone for both the platform and the Maldives tourism sector.
Maldives Targets New Wave of Investors With 50-Year Resort Leases
In its latest bid to expand high-value tourism infrastructure, the Government of Maldives has opened public tendering for the lease, development, operation, and management of 14 resort plots. These include vast lagoons and smaller islands across five atolls. Announced by the Ministry of Tourism and Environment, the tender represents one of the most ambitious resort development calls...
Gov’t Spending Trails Behind Revenue as Maldives Posts MVR 1.36 Billion Surplus
The Maldives recorded a budget surplus of MVR 1.36 billion as of 19 June 2025, despite subdued government spending on capital projects. According to the Ministry of Finance’s latest Weekly Fiscal Developments report, the government collected MVR 17.6 billion in revenue and grants while spending MVR 16.2 billion over the same period.
The report...
Gov’t Invites Bids to Develop Halal-Compliant Resorts on Long-Term Leases
The Ministry of Tourism and Environment has announced a public tender for the lease, development, and operation of six tourist resorts under the Halal Tourism Model, distributed across five atolls in the Maldives. The tender invites both local and foreign bidders to submit proposals for long-term development of these sites, each of which must comply fully with...
BML Raises Debit Card Limit to USD 500, Adds Up to 30% Fee on Temu, Shein and Other Platforms
Bank of Maldives has raised the monthly foreign transaction limit for MVR-denominated debit cards to USD 500, while also announcing a new transaction fee of up to 30 percent on purchases from selected e-commerce platforms including Temu, Shein, Alibaba, AliExpress, Lazada and eBay.
Effective 1 July 2025, the increased USD 500 monthly cap applies...
Corporate Maldives Publishes June 2025 Edition of Corporate Maldives Magazine
Corporate Maldives has published the June 2025 edition of the Corporate Maldives Magazine. As a quarterly print publication, we continue our commitment to capturing the pulse of the Maldives’ business landscape through in-depth features and sectoral highlights.
In this issue, our Corporate Maldives Spotlight shines on First National, a homegrown financial services provider working to deepen...
MACL AGM 2024: Nurain Cheers Expansion Progress, Confirms MVR 75 Million Dividend
The Maldives Airports Company Limited (MACL) held its Annual General Meeting at the Hulhule Island Hotel, spotlighting record profits and key developments, including the upcoming opening of a new terminal at Velana International Airport. The meeting was chaired by Ayesha Nurain Janah, with board members, Chief Executive Officer and Managing Director Ibrahim Shareef Mohamed, and executive management...
Maldives Establishes Embassy in Qatar to Deepen Bilateral Cooperation
The Maldives has formally established an embassy in Qatar, marking a renewed effort to strengthen ties with the Gulf nation across a range of sectors, including education, politics, defence, and economic cooperation.
President Dr Mohamed Muizzu announced the decision under Article 116(h) of the Constitution, which grants the President authority to determine the diplomatic...
President Begins State Visit to Singapore as Diplomatic Relations Mark Golden Jubilee
President Dr Mohamed Muizzu and First Lady Madam Sajidha Mohamed have departed on a state visit to Singapore, scheduled from 29 June to 2 July 2025. The trip coincides with the golden jubilee of formal diplomatic relations between the Maldives and Singapore, first established on 20 February 1975.
During the visit, President Muizzu is...
LATEST ARTICLES
M.H.A. Private Limited Launches MVR 30 Million Parallel Istisna’ Sukuk to Finance Hulhumale’ Promenade...
M.H.A Private Limited, one of the leading FMCG distributors in the Maldives, has officially launched its MVR 30 million Parallel Istisna’ sukuk...
Dhiraagu Backs BVISM to Boost Inclusion in Shaviyani Atoll
Dhiraagu has extended its support to the Blind and Visually Impaired Society of Maldives (BVISM) as part of its corporate social responsibility...
June Breaks the Off-Season Mould as Tourist Arrivals Climb
Tourist arrivals to the Maldives rose by 15 percent in June 2025 compared to the same month last year, with 141,772 visitors...
At FfD4, Maldives Pushes for Equity in Global Finance and Resilience Building
Vice President Hussain Mohamed Latheef has called for urgent reforms to the international financial system, highlighting the structural barriers faced by Small...
MMA Opens Applications for 2025 Tamweel Islamic Finance Scholarships
The Maldives Monetary Authority (MMA) has opened applications for its 2025 Tamweel Islamic Finance Scholarship, offering a range of fully and partially...
