Dhiraagu Launches Reload & Win Offer with Daily and Weekly Prizes

Dhiraagu has launched a new “Reload & Win” offer, giving Prepaid customers the opportunity to win prizes through daily and weekly lucky draws. Customers who reload MVR 20 or more during the campaign period will automatically qualify for the draw.

According to Dhiraagu, the daily prize includes 100GB of data, while weekly prizes feature items such as an iPhone 17 Pro, Ray-Ban Meta Smart Glasses, a PS5 Pro (CD version), and a Nintendo Switch.

The company stated that customers can reload through multiple channels, including the DhiraaguApp, DhiraaguPay, MyAccount, or any partner shop. The promotion runs until 11 November 2025.

Dhiraagu noted that the offer is part of its broader effort to enhance the digital experience for customers through diverse Prepaid plans and value-added services.

Maldives Ranks 56th in 2025 Henley Passport Index with Access to 94 Destinations

The Maldives ranks 56th in the October 2025 Henley Passport Index, with visa-free or visa-on-arrival access to 94 destinations. It shares the 56th position with Ecuador and Timor-Leste, all three recording the same visa-free score.

In the global picture, Singapore leads with access to 193 destinations. Malaysia and the United States are jointly placed at 12th with 180, while the United Kingdom sits in the 8th cluster at 184. The United Arab Emirates also features in that 8th tier at 184. These placements frame the Maldives in the mid-table of global mobility.

Within South Asia, the Maldives continues to perform ahead of larger neighbours. India is ranked 85th with a score of 57, while Sri Lanka appears in the 98th tier at 41 and Bangladesh at 100th with 38. Against this regional backdrop, the Maldivian passport’s 94-destination access remains comparatively strong.

The Henley Passport Index compiles its rankings using IATA data across 199 passports and 227 destinations, providing a snapshot of how far citizens can travel without securing a visa in advance. The October 2025 release confirms the Maldives’ mid-range standing while highlighting room for future gains through expanded bilateral arrangements.

ICAM Introduces Regulation for Valuation Service Providers

The Institute of Chartered Accountants of the Maldives (ICAM) has published the Regulation on the Registration of Service Providers Conducting Financial Statement Valuations, the organisation announced yesterday.

According to a gazetted notice, the regulation was formulated under the Maldives Chartered Accountants Act and aims to establish policies and procedures for registering valuation service providers. It also sets out conditions for registering as an individual valuator or a valuator firm, including requirements for continued professional development (CPD), registration fees, reporting obligations, and disciplinary measures.

The regulation applies to individuals and firms providing valuation services to the private sector in the Maldives. Registered individual valuators are required to complete 10 CPD hours annually and 60 hours every three years, with at least five hours verified through the institution or its approved programmes.

The regulation also outlines penalties for violations. Depending on the severity of the breach, violators may face fines ranging from MVR 2,000 to MVR 10,000.

The regulation takes effect immediately upon publication in the gazette.

Registrations Open for Ooredoo Fun Run 2025 in Hulhumalé

Ooredoo Maldives has opened registrations for the Ooredoo Fun Run 2025, set to take place on 19 December in Hulhumalé. Dubbed the “Happiest Run in the Maldives,” the annual event promises a vibrant day of colour, movement, and community celebration.

The event welcomes participants of all ages and fitness levels, offering a choice between two kit options. The Fun Kit, priced at MVR 210, includes an exclusive Fun Run T-shirt and wristband, with free bib customisation available until 31 October. The Standard Kit, priced at MVR 110, comes with a Fun Run T-shirt, wristband, cloth bag, eyeglasses, and a multipurpose bandana.

Registrations will remain open until 14 November 2025 at 23:59, with limited slots available. Interested participants can register and purchase their kits through their website.

The Ooredoo Fun Run is known for its energetic atmosphere, with participants encouraged to run, walk, or dance their way through the route. The event aims to bring communities together and celebrate the joy of movement in a festive and inclusive environment.

President Muizzu Begins Three-Day Tour of Hadhdhunmathi Islands

President Dr Mohamed Muizzu has begun a three-day visit to the inhabited islands of Hadhdhunmathi (Laamu Atoll), where he is scheduled to meet with local councils, Women’s Development Committees (WDCs), and residents.

The visit includes stops at eleven islands: Isdhoo, Kalaidhoo, Dhan’bidhoo, Maabaidhoo, Mundoo, Gan, Maavah, Fonadhoo, Maamendhoo, Hithadhoo, and Kunahandhoo. Discussions are expected to focus on local infrastructure needs, community welfare, and ongoing development projects.

According to the President’s Office, the trip is part of a broader effort to maintain regular contact with atoll, island, and city councils. The President will hear directly from communities about their priorities and challenges, with the aim of identifying areas where government support may be needed.

Cabinet Ministers and senior officials from various government institutions are accompanying the President on the visit.

Race Kit Collection Underway for Dhiraagu Maldives Road Race 2025

Dhiraagu has commenced the distribution of race kits for the Dhiraagu Maldives Road Race (DMRR) 2025, marking the official start of pre-race preparations for one of the country’s largest community sporting events.

The distribution is taking place at the DMRR Bib Expo Centre, located on the ground floor of the Dhiraagu Head Office on Ameenee Magu, Malé. According to the company, participants can collect their kits between 9:00 am and 12:00 pm, 2:00 pm and 6:00 pm, and again from 8:00 pm to 10:00 pm from 20 to 22 October.

Each race kit includes a participant’s bib equipped with an in-built timing chip, a race t-shirt, a string bag, and four safety pins. Runners are required to present their national identity card and bib number for verification when collecting their kits.

The 16th edition of the Dhiraagu Maldives Road Race will take place this Friday at Central Park, Hulhumalé, with more than 4,500 participants expected to take part. The annual event continues to draw runners from across the Maldives, reinforcing its reputation as the nation’s biggest running event.

Civil Court Halts Tourism Ministry’s Move to Terminate Kihaadhuffaru Head Lease

The Civil Court has issued an interim order preventing the Ministry of Tourism from enforcing its decision to terminate the head lease for Kihaadhuffaru in Baa Atoll, following a case filed by Athama Marine International, the island’s head-lessee.

According to filings, Athama stated that a ministry team had arrived on the island and demanded the keys, suggesting the state intended to take control of the property. The resort, operated under the brand Kihaa Maldives and subleased to Coral Islands (Maldives), has been entangled in a long-running compliance dispute with the government.

The Ministry of Tourism announced in August that the resort’s conditional operating licence had expired in September 2019, but the property continued to host guests without authorisation. It noted that Athama had twice been fined for operating without a valid licence and cautioned tourists against visiting the resort while “additional measures” were being pursued.

In its statement to the court, Athama acknowledged that the resort had fallen short of tourism standards but said that efforts were made to address compliance issues once identified by regulators. The company linked the decline in operations to the COVID-19 pandemic, noting that although permission to reopen was granted in December 2020, the resort required substantial renovation. It added that Coral Islands’ financial difficulties had prevented the payment of sublease rent.

A compliance inspection in December 2023 found issues including salary arrears, outstanding taxes, maintenance deficiencies, and lapsed facility registrations. Athama told the court that operations were halted immediately after receiving the ministry’s notice and that subsequent efforts were focused on obtaining necessary permits and addressing compliance gaps.

The Tourism Ministry had given a 15-day period to correct the deficiencies, but Athama contended that the notice itself violated the terms of the lease agreement.

The Civil Court, issuing the interim injunction in the absence of ministry representation, ruled that the case was urgent and that Athama risked irreparable harm if enforcement proceeded. The order postpones the ministry’s termination notice until 2 October 2025 and bars any enforcement actions that could affect third-party rights. The court also required the plaintiffs to file a substantive motion within the timeframe specified in the order.

Athama Marine International has held the lease for Kihaadhuffaru since August 1997 and told the court it has invested USD 56 million in the property over the past 28 years.

Economic Ministry Introduces Transition Arrangement for Existing Foreign Investments

The Ministry of Economic Development and Trade introduced a Transition Arrangement for existing foreign investments affected by the newly restricted and closed sectors under the revised Foreign Investment framework.

According to the Ministry, the transitional framework, introduced with the revised framework for investing, aims to support investors impacted by the policy changes, allowing them sufficient time to restructure operations and align with the new entry requirements endorsed by the Cabinet.

The Annex II published by the Ministry outlines the applicable transition periods for existing investments in restricted and closed sectors. It also highlights that the proposed durations and scope were developed following extensive consultations with the Business Council—a body comprising private sector representatives across key industries—as well as with investors and legal experts representing foreign stakeholders.

The Ministry stated that the arrangements are in line with international best practices, ensuring policy credibility while facilitating a smooth transition for affected businesses.

Transition periods will vary based on the sector, project type, and investment scale.

  • A one-year transition period will be granted to businesses in General, Cargo, and Passenger Sales Agency, Accounting and Auditing, Service-based businesses, and Wholesale and Retail Trade.
  • Sectors involving substantial investments, such as sea transport, domestic logistics, and capital-intensive projects, will be granted three to seven years.
  • Existing residential real estate projects will follow transition timelines as outlined in their respective project agreements.

Investors seeking to benefit from the transition period must submit an application via fiu@trade.gov.mv. Applications will undergo a preliminary assessment by the Foreign Investment Unit (FIU), followed by a review by the Transition Committee. The Ministry will then issue a decision specifying the approved continuation period, with investors given the right to appeal for re-evaluation.

Maldives and Egypt Sign MoU to Deepen Political Cooperation

The Maldives and Egypt have signed a Memorandum of Understanding (MoU) on Political Consultations to reinforce the longstanding bonds of friendship and cooperation between the two nations.

The agreement, signed at a ceremony held at Tahrir Palace in Cairo, formalises the consultation mechanism established in 2019, providing a structured framework for regular dialogue on bilateral, regional, and international issues of mutual interest.

The MoU was signed on behalf of the Government of Maldives by Minister of Foreign Affairs Dr Abdulla Khaleel, and on behalf of the Government of Egypt by Minister of Foreign Affairs Dr Badr Ahmed Mohamed Abdelatty.

Following the signing, Minister Khaleel highlighted the deep-rooted historical and cultural ties shared between the Maldives and Egypt. He expressed confidence that the formalisation of this framework would strengthen cooperation and foster closer people-to-people relations between the two countries.

He also noted that two successful rounds of political consultations have already been held, in Cairo in 2019 and in Malé in 2023, reflecting the shared commitment of both governments to maintaining active and constructive diplomatic engagement.

The Government of Maldives reaffirmed its commitment to working closely with Egypt to build on the progress achieved through this visit and to explore new areas of partnership in the years to come.

Gov’t Pledges Continued Support for Farmers and Sustainable Agriculture

Farmers are the backbone of the nation during times of crisis, Minister for Cities, Local Government and Public Works Adam Shareef Umar has said.

Speaking at the opening ceremony of the Fehi Dhirun Expo held on 18 October to mark National Farmers’ Day, World Food Day and World Animal Day, Minister Shareef reflected on the vital role of farmers throughout history. He recalled that during World War II, food shortages affected many countries, but Maldivians were able to sustain themselves thanks to the nation’s rich marine resources and the relentless work of farmers across the islands.

“In this country, it is the farmers who provide the public with the greatest reassurance during times of difficulty. Their work must be recognised and valued,” the Minister said, acknowledging their continued contribution to national resilience.

He further noted that while the Maldives has evolved over the years, challenges such as land shortages persist. However, he highlighted that many farmers across the country continue to maintain productive farms through the use of modern technology.

At the same event, Minister of Agriculture and Animal Welfare Dr Maryam Mariya announced that a dedicated application for farmers, the ‘Dhanduveriyaa’ app, will be launched later this year. She stated that ensuring safe and affordable food for all should remain a national and international priority, noting that the agricultural industry is expanding and plays an increasingly important role in the country’s economy.

Dr Mariya revealed that more than 7,000 farmers are currently active in the Maldives, with women comprising over half of the workforce. She said this growing participation contributes significantly to women’s economic empowerment.

She also underlined the importance of prioritising environmental sustainability and human wellbeing in agricultural practices, pointing to the Maldives Food Agricultural Practice Certification System as the national framework ensuring the safety, quality and sustainability of local produce.

The Minister added that the government is continuing efforts to attract investors to agricultural islands, implement projects that promote island farming, and develop digital tools to collect and analyse agricultural data. She said the beta version of a new mobile application is now being tested and will be made publicly available to farmers later this year.

Dr Mariya commended President Dr Mohamed Muizzu’s leadership in ensuring that every island is equipped with land and resources to promote self-sustenance. She reaffirmed the government’s commitment to supporting this goal through targeted agricultural initiatives.

Maldives and Egypt Commit to Expanding Trade, Health, and Tourism Cooperation

The Minister of Foreign Affairs of the Maldives, Dr Abdulla Khaleel, held official talks with his Egyptian counterpart, Dr Badr Abdelatty, in Cairo, reaffirming the strong and historic ties between the two nations.

The meeting, held at Tahrir Palace, underscored the longstanding relationship between the Maldives and Egypt, founded on shared values and strengthened through deep-rooted religious and cultural connections. Both sides expressed commitment to expanding cooperation across multiple sectors.

Minister Khaleel conveyed appreciation for Egypt’s continued support in education and human resource development, highlighting the significant role of scholarships from Al-Azhar University that have benefitted generations of Maldivian students. The discussion also explored potential collaboration in health and the exchange of technical expertise.

The two Ministers discussed prospects for enhancing economic and trade relations, including cooperation in agriculture and food security, and noted the potential for growth in tourism through increased connectivity and people-to-people exchanges.

Turning to regional and global developments, Minister Khaleel commended Egypt’s steadfast leadership in supporting the Palestinian cause and reiterated the Maldives’ unwavering solidarity with the Palestinian people in their pursuit of an independent state within the pre-1967 borders, with East Jerusalem as its capital.

He also praised Egypt for successfully hosting the recent Gaza Peace Summit, which resulted in a ceasefire agreement, describing it as a key step towards easing civilian suffering and fostering prospects for long-term peace in the region.

Both Ministers reaffirmed their countries’ shared commitment to continued cooperation on the multilateral stage, particularly in promoting peace, stability, and sustainable development.

The meeting concluded with both parties expressing confidence that relations between the Maldives and Egypt, spanning more than five decades, will continue to deepen, delivering mutual benefits for both nations.

The Next Frontier for Maldivian Finance Lies in Skills, Not Titles

Across the world, the finance profession is evolving beyond traditional accounting and reporting. Today’s most sought-after professionals are not just number crunchers; they are strategic thinkers who understand data analytics, automation, sustainability, and risk management. In the Maldives, this shift has been slower to take root, but the need for it is becoming increasingly clear.

As the country’s economy diversifies, businesses are beginning to demand more from their finance teams. It is no longer enough for accountants and financial controllers to simply close books or prepare statements. Modern finance functions are expected to analyse data in real time, forecast future scenarios, and guide decision-making that supports growth. In this new landscape, companies that continue to rely solely on conventional qualifications and experience may find themselves at a disadvantage.

Skill-based hiring, recruiting and developing professionals based on demonstrable capabilities rather than job titles or years of experience, offers a way forward. It allows organisations to identify individuals who bring a blend of technical expertise and adaptability. For instance, a finance officer who understands automation tools or data visualisation platforms can save a company time, improve reporting accuracy, and uncover insights that traditional systems overlook. Similarly, knowledge of sustainability accounting and environmental risk assessment is becoming essential as businesses face growing expectations around ESG reporting and responsible investment.

For Maldivian companies, investing in skill-based hiring also means investing in long-term resilience. The country’s reliance on a small pool of finance professionals often leads to talent shortages and wage pressure. By widening the criteria for what makes a candidate valuable, prioritising skills in data literacy, digital finance, compliance, and sustainability, organisations can cultivate stronger teams from within rather than competing over a limited number of experienced hires.

Upskilling existing finance teams is another critical step. Training programmes, online certifications, and cross-functional exposure can transform traditional accounting staff into multi-skilled professionals who can handle digital transformation, budgeting for green projects, or managing financial risks in a globalised market. Such development not only strengthens company performance but also improves employee retention by giving professionals a clear path for growth.

As artificial intelligence, automation, and digital payment systems become more integrated into Maldivian business operations, the future finance function will need to be faster, smarter, and more strategic. Skill-based hiring ensures that the people leading these functions are prepared for what comes next.

For companies that want to thrive, the challenge now is to look beyond degrees and job histories and start recognising the value of skills that drive transformation. The Maldives’ next generation of finance leaders will not just manage money; they will manage change.

Ministry of Fisheries Opens Youth Fishing Program for Maldivians Under 24 Again

The Ministry of Fisheries and Ocean Resources is offering five Maldivians under the age of 24 the opportunity to gain hands-on experience in the fishing industry through a three-month programme this year.

As announced on 16 October, the programme will run from November 2025 to January 2026, with applications closing on 23 October 2025.

The initiative, published in the Maldives Gazette yesterday, aims to boost youth interest in the fishing sector and is supported by the World Bank’s “Transforming Fisheries Sector in the South-West Indian Ocean Region and Maldives Project”.

Participants will receive practical training and guidance on fishing, including the chance to experience pole-and-line fishing for skipjack tuna aboard prominent Maldivian vessels. They will also learn directly from experienced fishermen, acquiring skills and insights into the industry.

To be eligible, applicants must be under 24, demonstrate an interest in working in the fishing sector, and not be currently registered in the Ministry’s fishermen’s registry. Applicants are required to submit a completed form, a copy of their ID card, and, for those under 18, a guardian’s letter of consent.

This is the second time the ministry has opened applications for the programme. Earlier, on 2 September, the Ministry opened applications, which was set to run from September to November 2025.

Former President Nasheed Pushes for Spending Pause to Stabilise Finances

Former President Mohamed Nasheed has urged the Maldives to slow down its pace of development, calling for a four to five-year pause on major infrastructure projects to stabilise the country’s finances.

In a post on X on Friday evening, Nasheed said the slogan for the next presidential election should be “wait for now,” arguing that the next leader must commit to reducing expenditure and delaying large-scale projects. He said that development should not be defined by concrete structures alone, but by the strength of public finances and the nation’s ability to sustain long-term growth.

Nasheed’s comments come amid growing attention on state spending. The 2025 state budget, the first under President Dr Mohamed Muizzu’s administration, stands at MVR 56.6 billion, with MVR 12 billion allocated for Public Sector Investment Programme (PSIP) projects. However, official statistics show that by September 18, only MVR 7.1 billion had been utilised.

President Muizzu has maintained that development work will continue and pledged to complete ongoing projects within two years. He has also inaugurated multiple initiatives in recent months, including airports, roads, and housing projects across various islands.

Nasheed’s call for restraint followed remarks by President Muizzu earlier in the week that MVR 3 billion would be allocated for new projects in next year’s proposed budget. The former president, who has increasingly voiced concerns about the nation’s fiscal health on social media, said that real progress lies in reducing public debt, strengthening reserves, and creating fiscal surpluses rather than expanding infrastructure.

Hanimaadhoo Airport’s New Terminal Begins Operations Ahead of Completion

The new passenger terminal at HDh. Hanimaadhoo International Airport has officially begun operations, marking a major step forward in the airport’s ongoing redevelopment project.

Maldives Airports Company Limited (MACL) confirmed that operations were shifted to the new terminal’s ground floor on Thursday. The move is part of efforts to align the airport’s infrastructure with the Maldives Civil Aviation Authority’s standards, allowing Code C aircraft to use the full length of the new runway. To meet clearance requirements, MACL stated that the old terminal and nearby tall structures will be dismantled.

The government has targeted November 2025 to complete all remaining works and inaugurate the airport. During a visit to Hanimaadhoo in August, President Dr Mohamed Muizzu reaffirmed his administration’s commitment to completing the project, describing the airport’s development as vital to enhancing northern connectivity, tourism, and economic activity.

The redevelopment of Hanimaadhoo International Airport is being financed under an USD 800 million line of credit from EXIM Bank of India, signed between the Maldivian government and the bank in 2019. The project was awarded to India’s JMC Projects for USD 136.6 million.

Once complete, the project will feature a 2,400-metre runway, a 42,000 square feet apron, a 10,500 square feet passenger terminal, and a 3,800 square feet air traffic control tower, alongside an arm and fuel jetty. The terminal will have the capacity to handle up to 1.3 million passengers annually.

For residents and businesses in the northern atolls, the airport’s expansion carries significant expectations. Despite having numerous resorts and guesthouses, the region’s tourism potential has long been constrained by high domestic airfare and heavy reliance on travel via Malé. A direct gateway through Hanimaadhoo is seen as a key step towards unlocking the economic opportunities of the north.

Dr Khaleel’s Visit to Egypt Aims to Deepen Bilateral Ties

Minister of Foreign Affairs Dr Abdulla Khaleel has departed on an official visit to the Arab Republic of Egypt, following an invitation from Egyptian Foreign Minister Dr Badr Ahmed Mohamed Abdelatty.

During the visit, Dr Khaleel will hold discussions with Dr Abdelatty to review the longstanding ties of friendship and cooperation between the Maldives and Egypt. The two ministers are expected to explore ways to strengthen collaboration in key areas such as education, health, trade, and cultural exchange.

Dr Khaleel is also scheduled to meet with senior Egyptian government officials to discuss opportunities for expanding partnerships across priority sectors.

The visit highlights the Maldives’ commitment to deepening relations with Egypt and advancing shared interests both bilaterally and in multilateral forums, reflecting the close ties between the two nations grounded in mutual respect and shared Islamic heritage.

Maldives’ Payments Revolution: Fast Rails, Slow Habits

If you were to judge the Maldives’ financial future by its instant payment system, Favara, you might think the country is on the verge of a cashless leap. In a relatively short period, it has processed millions of real-time transfers worth billions of Rufiyaa. Cheques are declining, card payments are soaring, and a second phase of Favara, with a national mobile app, is now undergoing testing. It is a rare example of a developing economy building modern payment rails faster than its own behavioural change can catch up.

Cash use remains resilient. Currency in circulation rose again in 2024, while ATM withdrawals, though fewer, still totalled nearly MVR 35 billion. Free withdrawals and the convenience of physical cash are hard to displace, especially in outer atolls where merchants and households rely on tangible money.

Favara, however, has changed the texture of everyday transactions. The Maldives Monetary Authority’s latest Payment Bulletin shows over 7.7 million instant payments worth billions of Rufiyaa processed by end-2024, with interbank retail transfers climbing sharply. Cheques, by contrast, continue their quiet retreat, down notably in both volume and value. Yet they persist in corporate life, not out of nostalgia, but because they act as a guarantee of payment, something Favara’s real-time transfers, so far, do not replace.

Mobile wallets tell another story. Around 90,000 e-money accounts exist, but less than a third are active. Most usage still revolves around topping up mobile credit or paying bills. In theory, Favara should breathe new life into these wallets, allowing seamless bank-to-wallet transfers. In practice, many remain dormant, waiting for compelling reasons to exist.

Meanwhile, the banking sector is racing to connect. Five of the eight banks are already live on Favara, and the rest are testing. Cards remain dominant for retail spending, with 80 million card transactions in 2024 worth billions of Rufiyaa, evidence that Maldivians are as ready to tap as they are to transfer.

And beyond domestic banking, the frontier is expanding. Ooredoo’s recent partnership with PayPal hints at the next wave, cross-border interoperability. For freelancers, small businesses, and tourists, this could redefine how money flows in and out of the country. It is not just a fintech story; it is about integrating a small island economy into global payment networks without going through large intermediary banks.

Compared to neighbours, Maldives is now running faster than most. India’s UPI processes billions of transactions a month, but it took years of merchant incentives and public campaigns to get there. Sri Lanka’s LANKAQR has national QR acceptance but still struggles with usage beyond cities. Bangladesh’s Binimoy faltered on governance and adoption. Against this backdrop, Favara’s growth looks impressive. The challenge is not technological anymore; it is cultural and institutional.

Digital money systems succeed when they become invisible, when paying a bill or sending a salary does not feel like using a platform, but like breathing. The Maldives is close to that point technically, but not yet socially.

The country has built the pipes. The next test is whether it can change the flow.

Ooredoo Maldives Partners with Google Cloud to Bring Google Workspace to Local Businesses

Ooredoo Maldives has announced a new partnership with Google Cloud to introduce Google Workspace to small and medium enterprises (SMEs) and large organisations across the country. The collaboration aims to strengthen the digital capabilities of Maldivian businesses by providing access to Google’s suite of productivity and collaboration tools with local billing and support.

Google Workspace integrates a range of cloud-based applications, including Gmail, Drive, Docs, Sheets, Slides, Calendar, and Meet, offering a unified platform for communication, file management, and virtual collaboration. Through this partnership, businesses in the Maldives can streamline operations, improve productivity, and enhance teamwork while maintaining data security and compliance.

Ooredoo Maldives stated that it will offer flexible Google Workspace packages tailored to different business needs, backed by its ICT expertise and customer support. The service will allow local businesses to register and manage their subscriptions locally, simplifying the process and ensuring a more accessible digital experience.

Commenting on the launch, Ooredoo Maldives CEO and Managing Director Khalid Al-Hamadi said, “At Ooredoo, our focus has always been on empowering local businesses to thrive in an increasingly digital world. By bringing world-class tools like Google Workspace to our customers in the Maldives, we are transforming the way organisations work by enabling smarter collaboration, greater efficiency, and stronger connectivity.”

Chief Business Officer Rajesh Mehta added, “With Google Workspace, Ooredoo Business Maldives is empowering local organisations, whether they are SMEs, startups, or large enterprises, to reimagine how they work, collaborate, and achieve their goals. By bringing this global solution with local support, we make it easier for Maldivian businesses to embrace digital transformation with confidence.”

The partnership marks a significant step in Ooredoo’s broader strategy to drive digital inclusion and enable Maldivian enterprises to stay competitive in an evolving global economy.

SBI Maldives Temporarily Reduces Salary Remittance Limit to USD 150 for Indian Expatriates

State Bank of India (SBI) Maldives has temporarily reduced the salary remittance limit for Indian expatriates in the Maldives to USD 150 (MVR 2,313) due to low foreign exchange inflows.

According to a notice on SBI Maldives’ website, the limit applies to each account holder and includes a temporary suspension of ATM withdrawals and ECOM/POS usage from MVR cards outside the Maldives, effective from 25 October 2025. The bank did not specify when the restrictions would be lifted.

SBI urged customers to understand the current situation, stating they are working to fix the matter as soon as possible.

“Please be assured that we are closely monitoring the situation and will review these limits periodically. Our endeavour is to restore normal limits as soon as the foreign exchange availability improves,” the bank said.

The bank noted that unused amounts under the monthly limit will not be carried forward to the following month.

Gov’t Offers Over MVR 2.5 Billion in Treasury Bills

The Government of the Maldives has announced the issuance of new Treasury Bills (T-Bills) worth a total of over MVR 2.5 billion, inviting subscriptions from investors through the Ministry of Finance and Planning.

According to the invitation published by the Ministry, the sale will take place on 19 October 2025, with settlement due on 20 October. The T-Bills, issued under series TB-2025-020, include maturities ranging from 28 to 364 days with interest rates between 3.5 and 4.6 percent.

The offerings comprise four different maturities: MVR 854 million for 28-day bills at a 3.5 percent rate, MVR 326 million for 98-day bills at 3.87 percent, MVR 722 million for 182-day bills at 4.23 percent, and MVR 627 million for 364-day bills at 4.6 percent.

T-Bills are short-term government debt instruments used to manage liquidity and finance budgetary requirements. They are typically purchased by banks, financial institutions, and state-owned enterprises.

The Ministry noted that subscriptions must be submitted on the official form during the specified sale window and paid in full on the settlement date. Non-compliance with the settlement deadline may result in suspension from future government securities operations.

The issuance comes as part of the government’s regular domestic borrowing strategy aimed at managing short-term financing needs and sustaining fiscal stability.

Maldives Calls for a Renewed, Responsive, and Reform-Oriented NAM

At the 19th Midterm Ministerial Meeting of the Non-Aligned Movement (NAM) held in Uganda, the Maldives called for a more responsive and reform-oriented Movement capable of addressing 21st century challenges.

Delivering the Maldives’ statement, Ambassador-at-Large Dr Mohamed Fahmy Hassan commended Uganda’s leadership under its current chairmanship and highlighted that the fast-changing global landscape demands stronger collective action from NAM. He said the Maldives envisions a revitalised NAM that can lead in addressing emerging non-traditional security threats, embrace innovation for sustainable and inclusive development, and take an active role in reforming global governance, including the United Nations Security Council.

Dr Fahmy stressed that the Movement’s ability to remain relevant depends on its responsiveness to modern realities such as climate change, digital transformation, and inequality. He said NAM must once again become a platform that reflects the priorities of developing nations and amplifies their collective voice in global decision-making.

On the Israel–Gaza conflict, the Maldives welcomed the agreement reached by NAM members to commence implementation of the first phase of the proposal to end the war in Gaza. Dr Fahmy urged Israel to abide by the terms of the agreement and reaffirmed the Maldives’ readiness to support genuine efforts toward lasting peace.

The meeting, held under the theme “Deepening Cooperation for Shared Global Affluence,” brought together ministers from across NAM’s 121 member states to review progress and chart a common path forward. Many participants reiterated that NAM, originally formed during the Cold War to safeguard independence from major power blocs, must now adapt to a new era marked by economic uncertainty, technological disruption, and environmental pressures.

For the Maldives, renewing NAM’s purpose aligns with its own foreign policy vision of strengthening multilateralism, ensuring fairer representation in global institutions, and advancing the interests of small island developing states. The country, which joined NAM in 1976, continues to advocate for equity, justice, and sustainable development through platforms that give small nations a voice in shaping the international order.

Gov’t to Allocate MVR 500 Million Each for Health and Education in 2026 Budget

President Dr Mohamed Muizzu has announced that the Government will allocate MVR 500 million each to the health and education sectors in the 2026 State Budget.

Speaking to residents of Funadhoo in North Miladhummadulu Atoll, the President said the upcoming budget will place strong focus on strengthening essential services and driving social development through investment in health and education.

In the education sector, the Government plans to enhance inclusive education and expand access to higher secondary opportunities nationwide. According to the President, inclusive classrooms for students with disabilities will be established in all schools, while additional teachers will be trained in special education. He also revealed that a vocational high school will be opened next year to diversify academic and technical learning pathways.

The health sector will see parallel investments aimed at reducing the need for Maldivians to seek medical treatment abroad. President Dr Muizzu said the Government intends to improve domestic capacity for medical testing and surgical procedures. Efforts will also focus on developing regional hospitals and strengthening services in Malé City and priority islands.

The President added that the national health policy for 2026 will integrate both preventive and curative approaches to ensure the overall well-being of citizens, reflecting his Administration’s wider development vision for the country.

Ooredoo Fintech Secures MMA License to Enable International Remittances via m-Faisaa

The Maldives Monetary Authority (MMA) has granted Ooredoo Fintech Maldives an Inward Remittance License, marking a key milestone in expanding digital financial services across the nation. The new approval enables users to receive international remittances directly into their m-Faisaa digital wallets.

At a special ceremony held at the MMA headquarters, Governor Ahmed Munawwar officially handed over the license to Fatima Al Kuwari, Board Member of Ooredoo Fintech Maldives and Chairperson of Ooredoo Maldives, and Chief Executive Officer Khalid Al-Hamadi.

The move is expected to make cross-border transactions more accessible and secure, particularly for freelancers, small business owners, and families who rely on overseas income. With this new capability, users can receive funds from abroad without intermediaries, offering faster and more flexible money management options.

Khalid Al-Hamadi, CEO and Managing Director of Ooredoo Fintech Maldives, said the new license reflects Ooredoo’s ongoing support for the MMA’s vision of a cash-lite, digitally driven economy. He highlighted that m-Faisaa’s expanding services—from bill payments and merchant QR transactions to domestic and soon international transfers—are contributing to a more connected and digitally empowered Maldives.

The introduction of inward remittances through m-Faisaa aligns with Ooredoo’s broader strategy to strengthen its fintech ecosystem across markets in the Middle East, North Africa, and Southeast Asia, supporting digital inclusion and financial empowerment throughout the region.

STO Begins Supply of 23 Newly Classified Essential Food Products

State Trading Organisation (STO) announced today that the company has started to import all food items recently added to the essential food items list.

In a press release issued today, STO stated that the move aligns with the government’s policy to ensure the availability of basic food items at affordable prices. The company confirmed that 23 essential food items will now be available at STO Wholesale Centres and STO People’s Choice outlets across the country.

STO said the prices of the 23 products have been set in line with prevailing market rates and will fluctuate based on market conditions. Consumers can monitor updated prices through the Ministry of Economic Development and Trade’s Agumaagu portal.

According to STO, discussions are ongoing to explore measures that would facilitate easier access for businesses to procure these items based on market demand. The company emphasised its commitment to ensuring the consistent availability of healthy and affordable food for the Maldivian public.

The Cabinet had approved the bulk import of 10 varieties of fruits, 10 varieties of vegetables, and other essential food items through STO for local sale.

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