The Politicisation of the Maldives Monetary Authority: A Call for Central Bank Independence
Recent events have reignited concerns about political influence over the Maldives Monetary Authority (MMA), illustrating the urgent need to safeguard the institution's independence. The reported MVR 15 billion land transaction between the government and the MMA has sparked debate, with critics warning that the move could destabilise the Maldivian economy. The resignations of key figures, including Ahmed...
Ooredoo Nation Ramadan eSports Festival 2K25 Kicks Off with MVR 30,000 Prize Pool
The Ooredoo Nation Ramadan eSports Festival 2K25 has commenced in the Maldives, offering an engaging gaming experience in collaboration with the Ministry of Youth Empowerment, Information and Art. The event runs from 12th to 14th March 2025 at the Youth Third Space on Lily Magu, operating between 9:00 PM and midnight each evening.
With...
Maldivian to Launch Seaplane Service to Baa Fulhadhoo
Maldivian, the national airline of the Maldives, is set to introduce a seaplane service connecting Baa Fulhadhoo with the broader Baa Atoll region. The new service will offer faster and more convenient travel options for those visiting B. Fulhadhoo, B. Fehendhoo, and B. Goidhoo.
The seaplane route is scheduled to commence on 31st March...
Dhiraagu 3X3 Basketball Tournament to Begin on 13 March
The Dhiraagu 3X3 Challenge basketball tournament is set to begin on Thursday, 13 March 2025, and will run until 19 March 2025 at the Social Center Outdoor Court.
Organised by the Titans Basketball Academy, the tournament offers a platform for young athletes to showcase their basketball skills and improve their game. The event aims...
Finance Ministry Cites Legal Hurdles in Delaying MITDC Closure
The government's plan to dissolve the Maldives Integrated Tourism Development Corporation (MITDC) has been delayed due to unresolved legal issues linked to the L. Baresdhoo project, according to the Finance Ministry.
In a letter sent to Parliament’s State-Owned Enterprises (SOE) Committee, the Finance Ministry outlined key concerns that must be addressed before MITDC can...
Parliament Endorses Three Non-Resident Ambassador Nominations
Parliament has approved President Dr Mohamed Muizzu’s nominations for non-resident ambassadors to the Philippines, Spain, and New Zealand.
The endorsed nominations include Maldives’ High Commissioner to Malaysia, Dr Mariyam Shabeena Ahmed, who will also serve as the non-resident Ambassador to the Philippines. Additionally, Iruthisham Adam, the current High Commissioner to the United Kingdom, has...
AgroNat to Resume Operations with Focus on Food Security
The government has announced that AgroNat Company, a state-owned enterprise established to support the agriculture sector, will resume operations with a revised plan. The decision comes after the Cabinet reversed its earlier move to dissolve the company.
Agriculture Minister Dr Mariam Mariya confirmed that AgroNat will continue to function as a separate entity under...
First National Real Estate and Hospitality Fund Plc Seeks Independent Director Applications
First National Real Estate and Hospitality Fund Plc is inviting applications for the role of Independent Director, with the deadline set for 20 March.
To ensure candidates meet the required independence standards, applicants must:
Not hold shares in First National Real Estate and Hospitality Fund Plc.
Over 50 Companies Join Industry Meet to Explore Opportunities in the Maldives
The High Commission of India in the Maldives and the Confederation of Indian Industry (CII) recently organised an Industry Meet aimed at promoting investment opportunities in the Maldives. The event highlighted potential investments in tourism, agriculture, and fisheries, aligning with the Vision Document for Comprehensive Economic and Maritime Partnership.
More than 50 companies participated...
The AGI Era Is Approaching: How Can the Maldives Prepare for the Coming Disruption?
Artificial General Intelligence (AGI) — once considered a distant concept — is now expected to emerge within the next two to three years, far sooner than experts had predicted. AGI’s arrival is poised to redefine industries, labor markets, and governance structures worldwide. For the Maldives, a country heavily reliant on tourism, imports, and limited natural resources, this...
Proposed Amendment to Tourism Act Seeks to Establish New Tourism Trust Fund
The government is looking to establish and regulate a Tourism Trust Fund under the Tourism Act instead of the Finance Act. The proposed amendment, submitted to parliament by Ahmed Riyaz (PNC), MP for Thimarafushi constituency, outlines several changes aimed at improving the regulation and development of the Maldives' tourism sector.
In addition to establishing...
President’s Office Confirms Government Closure for Ramadan’s Final Days
The President's Office has announced that government offices will be closed for the last ten days of Ramadan, starting from Thursday, 20 March.
This follows a directive issued on 4 February 2024, which designates the final ten days of Ramadan as official government holidays, beginning from the Islamic year 1445. The decision reflects efforts...
Ooredoo Maldives Expands 5G Coverage to 80% of the Population
Ooredoo Maldives has announced that its 5G network now covers 80% of the country’s population, establishing itself as the Maldives' most extensive 5G network. The expansion extends connectivity to 79 inhabited islands, eight resorts, and 225 5G sites across the country.
The company stated that the milestone reinforces its commitment to enhancing digital connectivity...
Central Bank Shakeup: Deputy Governor’s Future Uncertain Amid Resignations
A motion has been submitted to Parliament's Finance Committee recommending the removal of Ahmed Imad, Deputy Governor of the Maldives Monetary Authority (MMA). The motion, proposed by Progressive National Congress (PNC) MP Abdul Latheef Mohamed from Dhidhoo and supported by Kelaa MP Abdulla Shareef, has now been referred to the full parliament for further action.
Gov’t Clears USD 100 Million Loan Amid Rising Debt Concerns
The Ministry of Finance and Planning has confirmed the repayment of a USD 100 million loan taken from Cargill Financial Services International, a United States-based financial agency, during the previous Maldivian Democratic Party (MDP) government.
The loan, acquired in 2022 for budget support rather than a major development project, carried an interest rate of...
IAA Maldives Established to Strengthen Internal Auditing in the Maldives
The Internal Audit Association of Maldives (IAA Maldives) has been formally established, marking a significant step in enhancing governance, accountability, and professional standards in the country’s internal auditing sector.
IAA Maldives was officially registered on 1st September 2024 and has since experienced rapid growth, attracting over 70 members from various industries. The newly formed...
WAMCO Awarded Contract for Waste Management Projects in 32 Islands
The Waste Management Corporation (WAMCO) has been awarded a contract to construct waste management facilities and buildings in 32 islands across the Maldives. The agreement was signed between the Ministry of Tourism and Environment and WAMCO, with Environment Minister Thoriq Ibrahim representing the ministry and WAMCO’s Managing Director Mujthaba Jaleel signing on behalf of the corporation.
Mariyam Shamma Ismail Appointed as New Registrar of Companies
The government has appointed Uza. Mariyam Shamma Ismail as the new Registrar of Companies, following the resignation of her predecessor, Mariyam Visam, on 5th March.
Minister of Economic Development Mohamed Saeed confirmed Shamma's appointment on Monday, 10th March 2025, and extended his congratulations in a post on X.
Shamma holds a...
Ahmed Zayan Resigns from MMA Board as Government Faces Economic Criticism
Ahmed Zayan Mohamed, the Ministry of Finance's representative on the Maldives Monetary Authority (MMA) board, has tendered his resignation, with his notice period set to conclude by 15 May.
Zayan, who heads the Fiscal Affairs Department at the Finance Ministry, has not publicly disclosed the reason for his resignation. However, his departure follows ongoing...
Maldives Stresses Commonwealth’s Role in Supporting Small States
As Commonwealth Day is observed, the Maldives has reflected on the role of the Commonwealth in supporting small states and reaffirmed its commitment to the organisation’s core values.
The theme for this year’s Commonwealth Day, "Together We Thrive," underscores the significance of unity, resilience, and progress. For the Maldives, this theme aligns with the country’s long-standing...
Ooredoo Maldives Shareholders Approve MVR 3.43 Dividend for 2024
Ooredoo Maldives Plc held its Annual General Meeting (AGM) on Sunday, 9th March 2025, where shareholders approved key resolutions, including the declaration of a dividend of MVR 3.43 per share for 2024.
The AGM took place at the company's headquarters in Hulhumale’ and was accessible virtually via the Maldives Securities Depository’s “FahiVote” platform. A...
Gov’t Plans MVR 15 Billion Land Sale to Central Bank Amid Rising Debt Concerns
The Maldivian government is reportedly preparing to raise MVR 15 billion by selling a large plot of land in Hulhumale’ to the Maldives Monetary Authority (MMA) — a move that has triggered concerns over its economic impact.
The land, managed by the Housing Development Corporation (HDC), is expected to be sold for between MVR 14 billion and MVR 15 billion. While the...
Maldives’ Travel Agents Call for Action Against Unregulated OTA Dominance
The Association of Travel Agents (ATA) has voiced strong concerns over what it describes as the growing and unchecked influence of Online Travel Agencies (OTAs) such as Booking.com in the Maldives. In a statement, ATA criticised Booking.com’s role in what it perceives as attempts to undermine local travel businesses.
ATA argued that OTAs are...
February Revenue Up by 5.4% Year-on-Year Driven by Lease Extension Fees and Income Tax
Revenue collections for the Maldives have shown positive growth in February 2025, reaching a total of MVR 2.47 billion. This represents a 5.4% increase compared to the same month last year, mainly due to significant one-off payments from Lease Period Extension Fees and a notable rise in Corporate Income Tax.
The Goods and Services...
LATEST ARTICLES
The Politicisation of the Maldives Monetary Authority: A Call for Central Bank Independence
Recent events have reignited concerns about political influence over the Maldives Monetary Authority (MMA), illustrating the urgent need to safeguard the institution's...
Ooredoo Nation Ramadan eSports Festival 2K25 Kicks Off with MVR 30,000 Prize Pool
The Ooredoo Nation Ramadan eSports Festival 2K25 has commenced in the Maldives, offering an engaging gaming experience in collaboration with the Ministry...
Maldivian to Launch Seaplane Service to Baa Fulhadhoo
Maldivian, the national airline of the Maldives, is set to introduce a seaplane service connecting Baa Fulhadhoo with the broader Baa Atoll...
Dhiraagu 3X3 Basketball Tournament to Begin on 13 March
The Dhiraagu 3X3 Challenge basketball tournament is set to begin on Thursday, 13 March 2025, and will run until 19 March 2025...
Finance Ministry Cites Legal Hurdles in Delaying MITDC Closure
The government's plan to dissolve the Maldives Integrated Tourism Development Corporation (MITDC) has been delayed due to unresolved legal issues linked to...
