Is the Maldives’ Fiscal Surplus a Sign of Discipline or Delay?
The Ministry of Finance reported a primary surplus of MVR 3.2 billion for the first four months of 2025, a figure that on the surface signals strong fiscal health. Yet, beneath the surplus lies a troubling picture of under-disbursement and stalled public sector investments, raising questions over whether the government is demonstrating fiscal discipline or simply...
MVR 15.9 Million Issued in Agriculture Loans Under Government Scheme
The Ministry of Agriculture and Animal Welfare has revealed that a total of MVR 15.9 million has been disbursed in agricultural loans through the 'Dhan’duveri Nafaa' loan scheme since its launch in 2019.
Run in partnership with the SME Development Finance Corporation (SDFC), the programme offers financing for modern farming projects aimed...
Maldives and Japan Sign Defence Agreement to Boost Maritime Security
Japan has committed to enhancing maritime security in the Maldives through the provision of two harbour crafts to the Maldives National Defence Force (MNDF) Coast Guard, following the signing of an Exchange of Notes between the two governments.
The agreement was formalised in a ceremony attended by senior officials from both nations,...
Parliamentary Committee Backs Asna Hamdi for Deputy Governor Role at MMA
The Parliamentary Public Accounts Committee has recommended the appointment of Aishath Asna Hamdi as the new Deputy Governor of the Maldives Monetary Authority (MMA), following a review of her qualifications and experience.
Her nomination was submitted to Parliament by President Dr Mohamed Muizzu after the resignation of former deputy governor Ahmed Imad...
Maldives Launches MVR 250M Islamic Social Finance Initiative
A new social financing initiative focused on expanding Islamic Finance and addressing community needs was officially launched in the Maldives on Wednesday. The Maldives Islamic Social Financing Initiative (MIFSI) brings together key players in the financial sector, including the Maldives Monetary Authority (MMA), BML Islamic, and Maldives Islamic Bank (MIB), to deliver a total of MVR...
Derosion Boat: Taiwan Innovation Tackles Shoreline Erosion with Floating Tech
As climate change intensifies and sea levels continue to rise, coastal erosion is becoming an increasingly urgent global concern. In response, Taiwan-based ReShore Technologies has developed an unconventional but promising solution: the Derosion Boat, a floating system designed to restore and protect eroding shorelines by working with, not against, the ocean.
Founded in 2000...
Maldives Signs MoU with UN University for Peace to Strengthen Diplomatic Training
The Foreign Service Institute of the Maldives (FOSIM) has signed a Memorandum of Understanding (MoU) with the UN University for Peace (UPEACE), aimed at enhancing the training and development of Maldivian foreign service officers and government officials working in international relations.
The agreement was signed during a ceremony held in Geneva, Switzerland....
Maldives Moves to Repeal and Replace 27-Year-Old Civil Aviation Act
A new bill proposing sweeping reforms to modernise the Maldives' aviation sector has been submitted to Parliament, with the aim of replacing the existing Civil Aviation Act enacted in 2001. The proposed legislation is intended to align the country's civil aviation laws with international standards and introduce a more structured approach to airport development and air...
Gov’t Seeks Consultants for Master Plan of Malé Center Point
The Ministry of Finance and Planning, on behalf of the Ministry of Construction, Housing and Infrastructure, has issued a request for expressions of interest (EOI) from qualified firms to provide design consultancy services for the proposed Malé Center Point (MCP) development project.
According to the public notice released on 6th May 2025,...
Maldives’ Broad Money Shrinks Slightly in 2024 as Bank Deposits Shift
The total money circulating in the Maldivian economy saw a small decline in 2024, according to recent figures. At the end of the year, broad money stood at MVR 59.2 billion, a slight drop from MVR 59.24 billion the previous year.
Broad money is a measure of the total amount of money...
Ooredoo Maldives and MMPRC Partner to Promote Maldives to 147 Million Global Customers
Ooredoo Maldives has entered into a strategic partnership with the Maldives Marketing and Public Relations Corporation (MMPRC) to promote the Maldives as a leading global travel destination. The agreement, signed on 6th May 2025 at Ooredoo Maldives Headquarters in Hulhumalé, aims to amplify the reach of the "Visit Maldives" brand through Ooredoo’s international network.
Vice President Urges Ethical Overhaul in Maldives’ Tourism Industry
Vice President Uz Hussain Mohamed Latheef said last night at the opening ceremony of the International Forum on Integrity that developing systems that protect whistleblowers, empower those who speak out, should be the standard practice in building a moral and ethical tourism industry. The ceremony was held at Villa Nautica.
Speaking at this ceremony,...
MMA Annual Report: Maldives Trade Shaped by Rising Imports and Evolving Export Structure
The Maldives Monetary Authority’s 2024 Annual Report highlights a year of notable shifts in the country’s trade structure, highlighting evolving consumption patterns, the growing role of re-exports, and continued reliance on imports for essential goods and capital inputs. While total trade volumes rose, the report draws particular attention to sharp declines in fish exports and a...
April 2025 Sees Strongest Tourism Growth in Three Years
Tourist arrivals to the Maldives saw a significant boost in April 2025, making it the most successful April in recent years. According to the latest figures from the Ministry of Tourism, 198,322 visitors arrived during the month, marking a 17.8% increase compared to April 2024 and the highest April tally on record.
UAE-Backed MIFC Project Breaks Ground in Maldives
The Maldives officially broke ground on the Maldives International Financial Centre (MIFC), a USD 8.8 billion project aimed at reshaping the nation’s economy and expanding its role in the global financial landscape.
The agreement for the joint venture between the Maldivian government and Dubai-based MBS Global Investments was signed on Sunday evening,...
UAE to Support Maldives in Credit Rating, Food Security, and Infrastructure Development
In a meeting held at the President’s Office, President Dr Mohamed Muizzu welcomed His Highness Sheikh Abdulla Bin Rashid Al Mualla, Deputy Ruler of Umm Al Quwain, United Arab Emirates, during a courtesy call aimed at deepening bilateral ties.
President Muizzu expressed his appreciation for the recent agreement concerning the Maldives International...
China’s New Ambassador to the Maldives Presents Credentials, Affirms Continued Support
The new Ambassador of the People’s Republic of China to the Maldives, His Excellency Kong Xianhua, officially presented his Letters of Credence to President Dr Mohamed Muizzu at a ceremony held on Monday morning at the President’s Office.
Ambassador Kong was ceremonially escorted from Republic Square to the President’s Office in a...
Maldives 2.0: President Launches Vision for a Digital-First Nation
President Dr Mohamed Muizzu has announced a new national initiative, titled ‘Maldives 2.0’, aimed at digitising government operations and public services over a three-year period. The plan, introduced during a press conference held on Saturday, includes a wide-ranging framework that the government says will enhance transparency and modernise the public sector.
According...
Maldives Launches USD 8.8 Billion Financial Centre to Reshape National Economy
The Maldives government has signed a landmark joint venture agreement with MBS Global Investments to establish the Maldives International Financial Centre (MIFC), a USD 8.8 billion financial free zone in Malé, positioning the capital city as a regional hub for finance, innovation, and global business. The agreement marks one of the most ambitious diversification efforts in...
Ooredoo Maldives Sets Guinness World Record for Largest Underwater Panel Discussion
Ooredoo Maldives has earned a place in the Guinness World Records after hosting the world’s largest underwater panel discussion, held beneath the vibrant waters of Baa Fulhadhoo. The event brought together five panelists who spoke for more than two minutes each while fully submerged, marking a first-of-its-kind achievement in the Maldives.
The...
Vaadhoo to Become First Fully Solar-Powered Island in the Maldives by Year-End
The government has announced plans to transition Raa Atoll Vaadhoo to 100 percent renewable energy by the end of 2025, positioning the island as a model for sustainable development within the country’s broader energy transition strategy.
The decision was revealed during a press conference held yesterday, where President Dr Mohamed Muizzu highlighted...
MTCC Posts MVR 62 Million Loss in Q1 Despite Higher Revenue
The Maldives Transport and Contracting Company (MTCC) reported a loss of MVR 62.1 million for the first quarter of 2025, even as revenue grew to MVR 418.5 million. This marked a 6.2 percent increase compared to the final quarter of 2024, reflecting a rise in project activity but underscoring challenges in cost control and profitability.
Maldives Strengthens WTO Ties with New Permanent Representative
Ambassador Dr. Salma Rasheed has officially assumed her role as the Permanent Representative of the Maldives to the World Trade Organization (WTO), following the presentation of her Letter of Credence to WTO Director-General Dr. Ngozi Okonjo-Iweala in a formal ceremony held at the organisation’s headquarters in Geneva.
During the ceremony, Ambassador Dr....
Central Bank Board Reshaped as Government Fills Two Vacancies
The government has appointed two new members to the Board of Directors of the Maldives Monetary Authority (MMA), following the resignation of two previous members earlier this year in the wake of controversy surrounding a major land acquisition in Hulhumalé.
According to information published on the MMA’s website, Mohamed Ahmed, State Minister...
LATEST ARTICLES
Is the Maldives’ Fiscal Surplus a Sign of Discipline or Delay?
The Ministry of Finance reported a primary surplus of MVR 3.2 billion for the first four months of 2025, a figure...
MVR 15.9 Million Issued in Agriculture Loans Under Government Scheme
The Ministry of Agriculture and Animal Welfare has revealed that a total of MVR 15.9 million has been disbursed in agricultural...
Maldives and Japan Sign Defence Agreement to Boost Maritime Security
Japan has committed to enhancing maritime security in the Maldives through the provision of two harbour crafts to the Maldives National...
Parliamentary Committee Backs Asna Hamdi for Deputy Governor Role at MMA
The Parliamentary Public Accounts Committee has recommended the appointment of Aishath Asna Hamdi as the new Deputy Governor of the Maldives...
Maldives Launches MVR 250M Islamic Social Finance Initiative
A new social financing initiative focused on expanding Islamic Finance and addressing community needs was officially launched in the Maldives on...
