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 transactions.
The specialized operation carried out on March 9th, uncovered a network of illicit dollar trading activities. Seven individuals were detained, including foreign nationals residing in the Maldives without valid visas and those working outside their permitted roles. The arrests were made by the Immigration Department’s Risk Intelligence, Legal Affairs, Enforcement, and Compliance Divisions.
The scarcity of dollars within official exchange channels has fueled a thriving black market. Obtaining dollars at the official rate set by the central bank remains a persistent challenge. This disparity in the market has created opportunities for exploitation, often involving foreign nationals who may be residing in the country illegally.
To address this issue in the long term, analysts suggest several measures. These include increasing the availability of dollars within the formal market, intensified enforcement against illegal currency exchange, and broader economic reforms designed to stabilize the Maldivian Rufiyaa against the dollar.
