Crowe Maldives: 17 Years of Transforming Accounting Profession in the Maldives

Seventeen years ago, in the corner of a quiet coffee shop in Henveyru near Artificial Beach, two friends sat over a conversation that would eventually dismantle a long-held national stereotype. At the time, the idea was as fragile as it was ambitious. It was the idea to build a premier local audit firm entirely, powered by Maldivian minds.

The year was 2007. The global economy was going through a financial crisis, creating a volatile and unforgiving business climate. The local professional landscape was hostile territory. The accounting sector was completely monopolised by foreign firms, guarded by a pervasive, unspoken belief that local professionals lacked the technical capacity for high-level audit rigour, and the discretion required for client confidentiality. At the time, the Maldives had no formal tax regime and no established licensing framework for auditors. From a purely commercial standpoint, there was no immediate “business” for a local firm to capture. Every market force was working against the founders of AH & Associates. But the total absence of a path was the deciding factor to build one. 

To challenge this hegemony was a huge business risk, and a reputation gamble. Yet, founded originally as AH & Associates with four partners and zero employees, the firm that would become Crowe Maldives set out to prove a bold conviction that locals can operate at a world-class standard.

Nearly two decades later, that coffee shop conversation has evolved into an institution that is known for their ethics, integrity, and professional excellence. For 17 years, the firm has mastered the art of disrupting the profession and staying ahead by daring to operate differently when others followed the script.

The Architecture of Trust

Building a local firm in a foreign-dominated industry required strong technical skill, and the reconstruction of trust among businesses. The early years were defined by the arduous task of convincing businesses that a 100% local team could safeguard their data and audit their books with the same precision as the global giants. This led them to make another audacious decision. To become a network firm. While critics dismissed the ambition as operationally impossible and financially reckless, the partners pressed forward, driven by the conviction that to change the game, they had to play at the highest level.

In 2016, AH & Associates made history by becoming a member of Crowe, one of the world’s top accounting networks with over 200 firms in more than 130 countries at that time. This was the first time a locally owned firm had joined such a prestigious league. It granted the team access to global methodologies, technical expertise, and elite quality standards without losing a single percentage of local ownership, effectively ending the debate on whether Maldivians could deliver world-class quality.

A Radical Faith in Local Talent

Perhaps the firm’s most defining characteristic is its unshakable commitment to local talent. Crowe Maldives remains the only top-tier firm in the country to maintain a 100% Maldivian workforce since its inception.

This was a bold defiance of industry norms. The partners bet on the potential of local graduates when others looked abroad. Today, that bet has paid dividends, not only in retention but in cultural agility.

Today, it seems that Crowe has evidently cracked the code on the modern workforce. In an era where corporate leaders globally struggle to integrate the youngest generation, Crowe has leaned in. Over 55% of their workforce consists of Gen Z professionals. Far from the stereotype of being difficult to manage, these young Maldivians are holding senior leadership positions and driving the firm’s innovation. It is a masterclass in intergenerational synergy.

Beyond the Capital City

Crowe’s vision of empowerment extends beyond Malé City. Recognising the latent talent in the atolls, the firm became the only one of its kind to establish a fully operational branch in Fuvahmulah, where they provide tax services to their clients. This was a demonstration of meaningful social impact. It allowed professionals to pursue high-trajectory careers without migrating to the capital city.

Looking Ahead

Today, Crowe Maldives is far more than an audit firm. It has metamorphosed into a diversified professional services powerhouse, leading the change in BPO, advisory, cybersecurity, and business automation. They have moved from checking the books to rewriting the playbook on how businesses operate in a digital age.

The future remains bright and optimistic for Crowe as they are entering into new markets. Through their unshakable vision to add value to the nation and their clients, Crowe is geared up to continue to be known as a disruptor and help their clients make smart decisions with lasting value.

SME Concessions Rolled Out Following Consultations with Business Owners

The government has announced a package of concessions aimed at supporting small and medium enterprises over the next two years, following consultations with business owners on operational and financial constraints.

The measures were outlined by Mohamed Saeed, Minister of Economic Development and Trade, during a press conference held at the President’s Office. The announcement follows a recent meeting between Dr Mohamed Muizzu and representatives of SMEs, where concerns related to financing, taxation, customs procedures, and access to foreign exchange were raised.

According to the Minister, the response will involve coordinated action across several state agencies, including the Maldives Inland Revenue Authority, Maldives Customs Service, Maldives Ports Limited, and Maldives Airports Company Limited.

A dedicated fund of MVR 500 million is set to be allocated to SMEs next year. Over the past two years, the government has disbursed MVR 349 million in small loans to 595 businesses operating across ten sectors, including women-led enterprises, mariculture, fisheries, and tourism.

The Ministry of Finance and Planning has also settled MVR 13 billion in outstanding bills, with MVR 5 billion paid to SMEs, easing cash flow pressures faced by suppliers to the state.

Measures to improve access to foreign currency were also highlighted. Bank of Maldives has expanded dollar support for import-related payments, offering up to 50 percent telegraphic transfer support for bills under USD 2,500, up to 30 percent for bills between USD 2,500 and USD 5,000, and 15 percent for amounts above USD 5,000 at the official exchange rate.

In parallel, MIRA has expanded its outreach efforts, providing tax guidance to 2,291 small businesses in the Male’ area and introducing relief measures for businesses with outstanding tax obligations.

The concessions package is expected to be rolled out over the next two years, with further operational details to be implemented through the relevant agencies.

Customs Extends Air Cargo Clearance to 24-Hour Operations

Customs clearance services for goods arriving by air are now operating around the clock, following concerns raised by small and medium enterprises over delays in the clearance process.

The change comes after a recent meeting between Dr Mohamed Muizzu and representatives of SMEs, where businesses highlighted operational challenges linked to limited clearance hours. At the meeting, the administration indicated that air cargo clearance would be expanded from the existing 18-hour schedule to a full 24-hour service to ease pressure on businesses.

An announcement by Maldives Customs Service has since confirmed that the extended operating hours are now in effect.

The move is part of a broader set of measures discussed with SMEs aimed at reducing costs and improving efficiency in cargo handling. Among these is a planned extension of the demurrage-free period from 80 hours to 124 hours, addressing concerns that high demurrage charges were resulting in financial losses for importers.

Authorities have also indicated that issues affecting both airport and seaport operations will be reviewed as part of ongoing efforts to improve trade facilitation and ease the operational burden on businesses reliant on imports.

Gov’t Weighs Small-Aircraft Airstrips to Expand Island Connectivity

The idea of developing short airstrips capable of handling small aircraft has been raised as a possible alternative to constructing multiple domestic airports across the Maldives, amid ongoing discussions on improving inter-island connectivity.

The proposal surfaced during the Youth Coffee with President event held last night, where a participant suggested exploring options beyond full-scale airport development, including the use of seaplane-style operations. In response, President Dr Mohamed Muizzu indicated that while seaplanes remain an important part of the country’s transport network, their inability to operate at night presents a significant limitation.

As an alternative, the administration is considering the feasibility of establishing short airstrips on larger islands or islands with sufficient available land. These airstrips would be designed to accommodate small aircraft comparable in size to seaplanes but fitted with wheels, allowing them to land and take off from runways rather than water.

According to the outline shared at the event, such operations would not require full-scale airport infrastructure. An airstrip of roughly 600 metres would be sufficient to handle aircraft of this category, potentially expanding access to air transport without the cost and complexity associated with building new airports.

The approach is presented as a way to reduce the need for multiple airport projects while still improving connectivity between islands. However, the discussion comes alongside an existing government policy aimed at ensuring that every inhabited island is within 30 minutes of an airport. The administration has also previously committed to constructing several new airports as part of its broader infrastructure agenda.

How short airstrips might fit into this wider policy framework, and whether they could supplement or replace planned airport projects, remains subject to further technical and policy evaluation.

Gov’t Drafting Cybersecurity Law to Address Surge in Digital Crimes

The Maldives government is preparing to introduce a comprehensive Cybersecurity Act next year, as authorities move to address a sharp rise in online crimes that has become a growing public concern.

President Dr Mohamed Muizzu said the legislation is being drafted in response to increasing reports of cyber-related offences, including financial scams, large-scale monetary theft, online harassment, and other forms of digital abuse. Public concern over these issues has intensified in recent months, with young people raising the matter during a recent Coffee with the President session.

According to the President, a series of significant measures are planned for next year to address gaps in the existing legal framework governing cybercrime. The proposed law is intended to establish clearer legal tools for investigation, prevention, and enforcement in an increasingly digital environment.

The Cybersecurity Act is expected to provide the legal foundation for the National Cyber Security Agency, which was established last year but is yet to operate at full capacity. The legislation would also enable the formation of a dedicated cyber incident response team, alongside specialised training programmes aimed at developing technical expertise to manage and respond to cyber threats.

The domestic push to strengthen cyber legislation aligns with the Maldives’ international commitments. The country was among the early signatories to the United Nations Convention against Cybercrime, signalling an intention to cooperate with other states in addressing cross-border cyber risks.

Once tabled, the proposed legislation is likely to play a central role in shaping how the Maldives regulates digital activity, protects users, and responds to the evolving nature of cyber threats.

NFIS 2026 to 2030 Aims to Expand Use of Financial Services Nationwide

The Maldives Monetary Authority has outlined an ambitious plan to reshape how financial services are accessed and used across the country, with the launch of the National Financial Inclusion Strategy 2026 to 2030. The strategy responds to the country’s geographic realities and persistent inclusion gaps, despite high levels of basic account ownership.

According to the strategy, while around 91 percent of adults in the Maldives hold a bank account, usage remains uneven. Women, older citizens, young people, and micro, small and medium enterprises continue to face structural barriers that limit meaningful participation in the financial system. The plan shifts focus from account access alone to financial deepening, resilience, and long-term sustainability.

Geography remains a central challenge. With more than 1,200 dispersed islands, maintaining physical banking infrastructure outside the Greater Male’ region is costly and inefficient. Although mobile internet penetration stands at close to 90 percent, this has not translated into equal use of digital financial services. Among citizens aged 65 and above, fewer than four in ten use mobile banking, while understanding of basic financial concepts remains limited.

The strategy highlights gender disparities as well. Women are significantly more likely to be unbanked than men and are far less likely to borrow from formal financial institutions. For MSMEs, unmet demand for private sector lending is estimated at MVR 11.1 billion, largely due to lack of acceptable collateral and informality in business operations.

Climate vulnerability also features prominently. A large majority of citizens recognise the need for financial tools linked to climate resilience, yet uptake of insurance and other risk management products remains low.

To address these gaps, the strategy is structured around five pillars. The first focuses on access to finance, including the introduction of alternative credit scoring models that draw on utility and telecom payment histories, and the creation of a central collateral registry allowing movable assets to be used as security. Housing finance for first-time buyers in the Greater Male’ region is also identified as a priority.

Islamic finance forms the second pillar, aiming to expand inclusion for those who avoid conventional banking for religious reasons. Proposed measures include integrating social finance instruments such as Zakat and Waqf into financial products, alongside capacity-building initiatives to improve public understanding of Islamic finance.

Digital finance is another core area, seeking to capitalise on high mobile usage. Plans include improving interoperability between banks and payment providers, enabling cross-border payments through integration of local systems, and establishing a centralised electronic know-your-customer platform to simplify account opening.

The fourth pillar addresses inclusive green finance. Measures include introducing a national green taxonomy to guide sustainable investment, developing frameworks for carbon credits linked to protected areas, and offering technical assistance and grants to MSMEs adopting environmentally sustainable practices.

Consumer empowerment and financial literacy underpin the final pillar. Financial education is to be integrated into school curricula, while a formal consumer redress mechanism is planned to handle complaints against financial institutions in a transparent and timely manner.

Supporting these pillars are reforms to financial infrastructure, legal and regulatory frameworks, and partnerships across government, the private sector, and civil society. Oversight of the strategy will rest with a National Financial Inclusion Steering Committee co-chaired by Maldives Monetary Authority and the Ministry of Finance, supported by technical committees aligned with each pillar.

Several high-priority actions are scheduled for early implementation. These include establishing the consumer redress mechanism and enacting new legislation on credit information and secured transactions in 2026, followed by the rollout of green finance frameworks and cross-border payment integration through 2027.

Together, the measures outlined in the NFIS 2026 to 2030 aim to build a more inclusive, resilient, and digitally enabled financial system that reflects the Maldives’ unique economic and geographic context.

Dhiraagu Gamers Guild Announces iPhone 17 Pro Max Giveaway

Dhiraagu has announced a new promotional giveaway through its Dhiraagu Gamers Guild platform, offering participants the chance to win an iPhone 17 Pro Max.

According to a press release issued by the company, the giveaway is open to individuals who register with Dhiraagu Gamers Guild via its official website. Entries will be accepted until 28 February 2026, with the winner to be selected through a lucky draw. 

Dhiraagu Gamers Guild, commonly referred to as DGG, serves as a platform for the local gaming community, hosting tournaments across a variety of game titles and offering prize pools aimed at encouraging participation. The company said the initiative is part of its continued engagement with gamers in the Maldives, providing opportunities for competition and community interaction.

The press release also noted that Dhiraagu Gamers Guild focuses on supporting the development and visibility of local gaming talent, positioning the platform as a hub for organised competitive gaming activities in the country.

Transport Ministry Eases Vehicle Deregistration and Garage Permit Rules

The Ministry of Transport and Civil Aviation has announced a set of regulatory changes that will come into effect on 1 January, aimed at addressing persistent administrative difficulties linked to vehicle deregistration and garage permit requirements.

Under the revised rules, vehicle owners will be allowed to cancel a vehicle’s registration even if annual fees or penalties remain unpaid. Previously, registrations could not be cancelled until all outstanding payments were settled, leaving owners of scrapped or severely damaged vehicles unable to formally deregister them and continuing to accrue liabilities. The Ministry said that while registration cancellation will now be permitted, any unpaid annual fees or penalties will remain payable by the owner.

The changes also introduce adjustments to the garage permit system, which is required for registering vehicles with more than two wheels. To ease ownership transfers, vehicles registered before the introduction of the garage requirement in 2009, as well as vehicles registered later without a valid permit, will be allowed to change ownership within their existing registration zone. This process will require a written statement from the current owner confirming that the vehicle will be parked in a garage, removing the need for additional documentation from local authorities.

In a further revision, garage permits issued by Malé City Council and the Housing Development Corporation will no longer be mandatory for initial vehicle registration. Instead, applicants will be required to submit proof that the parking space is officially registered as a garage, along with a no-objection letter from the owner of the garage.

The Ministry said the amendments are intended to simplify administrative processes and reduce long-standing complications faced by vehicle owners, particularly in relation to deregistering unusable vehicles and transferring ownership.

Maldives Doubles Renewable Energy Capacity as Tourism Revenue Trends Higher

The Maldives has doubled its renewable energy generation capacity over the past two years, according to figures shared by the government, as efforts continue to reduce reliance on imported fuel and manage long-term energy costs.

Minister of Tourism and Environment Thoriq Ibrahim said during a press briefing that renewable energy capacity has increased from 53 megawatts in 2023 to 110 megawatts at present. The expansion forms part of a broader strategy to lower dependence on fossil fuels, which currently supply around 92 percent of the country’s electricity, while solar accounts for the remaining share.

The Minister said fuel imports continue to place a heavy burden on public finances, with annual spending reaching USD 577.2 million. Electricity subsidies account for a further USD 149.2 million each year. Against this backdrop, the government has set a target to generate 33 percent of electricity consumption from renewable sources by 2028.

As part of this transition, renewable energy systems have already been installed on 102 islands. These include 28 megawatts of solar photovoltaic capacity and 10 megawatts of battery storage. According to the Ministry, the systems are estimated to save around 13 million litres of diesel and USD 12.3 million annually.

Installation work is also underway on a further 101 islands. This phase involves 164 megawatts of solar photovoltaic capacity and 158 megawatts of battery storage. Once completed, the projects are projected to reduce diesel consumption by 76 million litres a year, with annual savings estimated at USD 71.3 million.

One of the initiatives supporting household-level adoption is the My Solar programme, which allows users to finance solar systems through savings on electricity bills. The scheme is expected to reduce electricity costs for participants by up to 90 percent. In addition to solar, the government is also testing other renewable technologies, including a small-scale wind energy system, a solar-powered ferry, solar-powered community ice plants, and a tidal energy pilot project.

During the same briefing, the Minister said tourism revenue for the year is expected to exceed initial government projections. Earlier estimates anticipated 2.24 million tourist arrivals generating USD 5.45 billion in revenue. Based on current arrival trends, revenue is now forecast at around USD 5.55 billion, representing a 16 percent increase compared to the previous year.

As of Monday, tourist arrivals stood at 2.17 million, up from 1.97 million over the same period last year. This follows a record 2.05 million arrivals in 2024, which generated USD 4.79 billion in tourism revenue.

To support continued growth, the government has activated 6,665 new tourist beds over the past two years and has introduced policies aimed at expanding tourism into areas that have not previously seen large-scale development. The longer-term objective remains to increase annual tourism revenue to USD 6 billion.

Housing and Employment Barriers Dominate Youth Concerns Raised to President

President Mohamed Muizzu has said that involving young people at every stage of decision-making is essential for long-term and sustainable national development, arguing that policies are more effective when youth perspectives are formally integrated.

The President made the remarks while speaking at the ‘Youth Coffee with the President’ session, held at the conclusion of the two-day National Youth Conference organised by the Presidential Youth Advisory Board in collaboration with the Ministry of Youth Empowerment, Information and Arts. He described young people as central to both the country’s present and its future, noting that progress depends on engaging with their views early rather than retrospectively.

During the session, representatives from six groups at the conference presented proposals covering six thematic areas, followed by discussions with the President. He later outlined the Government’s position on the issues raised and responded to the recommendations put forward by participants.

Addressing youth participation more broadly, the President said that engagement in national decision-making has historically lacked a structured framework. He noted that this gap was addressed through the creation of the Presidential Youth Advisory Board, an initiative included in his manifesto. While acknowledging challenges in its early stages, he said the Board has remained active and is expected to play a stronger role going forward.

The President also referred to concerns raised by participants regarding the relatively small number of businesses started by young people. He said reforms are being pursued to reduce barriers faced by aspiring entrepreneurs, including changes within the education system. According to the President, clearer pathways are being created for students who wish to move into business after completing their studies, with a vocational pathway now incorporated into the A-Level curriculum.

Housing was identified as a key constraint affecting youth development. The President said housing projects are being prioritised in densely populated areas and locations linked to employment opportunities, particularly in sectors such as tourism. He added that projects are being planned near home islands and in population centres close to resort areas.

He further stated that housing development is being carried out across different regions of the Maldives rather than being focused solely on the Malé area. As an example, he referred to contracts awarded around a month ago for the construction of more than 800 housing units across multiple islands, with a portion reserved for youth and those employed in sectors such as tourism and fisheries. Additional housing opportunities, he said, will also be made available in the Malé area for young people and new families.

Aqua Vita Residents Raise Concerns Over Delayed Permits Linked to Developer NPH Developments’ Unpaid Dues

Tenants of Aqua Vita Residences have expressed concerns over Housing Development Corporation’s (HDC) decision to withhold residence permits, citing unpaid dues from the project’s developer, NPH Developments Pvt Ltd.

Local media reports the developer owes HDC MVR 215.2 million, the largest outstanding debt to the corporation.

Due to the non-payment, HDC has halted the provision of registry and vehicle registration services for Aqua Vita apartment buyers. Several buyers have expressed concern online and have sent a letter to HDC requesting a meeting to address the matter.

One buyer, Mohamed Shaaz Waleedh, shared a response received from HDC, stating that the corporation has not issued a permit to occupy the housing unit because the developer has outstanding payments to HDC.

The letter also noted that a parking permit has not been issued, as the developer has not resubmitted revised drawings for the parking area. It said permits would only be issued once the drawings are submitted and approved, if the allocated parking space falls within the affected area.

“For your information, therefore, the developer’s application for a building use permit will only be approved if the following conditions are met,” the letter said. The correspondence was signed by HDC Director Ibrahim Farih on 18 December 2025.

The tenant who posted the letter on X said that the dispute between HDC and the developer should not affect apartment buyers, arguing that responsibilities under the agreement rest with both parties to resolve the issue.

Speaking with MV+, he said he is planning to pursue this issue legally, seeking compensation both parties.

Qatar Airways Begins Operations from Terminal 1 at Velana International Airport

Qatar Airways has begun operations from Terminal 1 at Velana International Airport, advancing the ongoing transition of airlines to the new passenger terminal.

A special ceremony was held at Terminal 1 to mark the airline’s first services from the facility. The event was attended by Minister of Foreign Affairs Dr Abdulla Khaleel, CEO of Maldives Airports Company Limited (MACL) Ibrahim Shareef Mohamed, Vice President of Network Operations at Qatar Airways Paul Lucian, and other senior officials from both organisations.

During the ceremony, Qatar Airways’ check-in counters at Terminal 1 were officially opened. Gifts were presented to 162 departing passengers, while a cultural welcome was organised for 222 arriving passengers on flight QR674, the airline’s first arrival at the new terminal.

Qatar Airways is the first carrier from Qatar to operate from Terminal 1 and has maintained a presence in the Maldives since it launched flights on 18 December 2001.

With the inclusion of Qatar Airways, Terminal 1 now serves 37 airlines. MACL stated that its aim is to provide a high standard of service to all airlines operating to and from the Maldives.

Ooredoo Maldives Launches ATV Promotion with Six Vehicles to Be Won

Ooredoo Maldives has launched a new nationwide promotion offering customers the chance to win one of six All-Terrain Vehicles through a series of lucky draws scheduled across 2026. The promotion began on 20 December 2025 and will run until 31 December 2026. 

Under the promotion, six lucky draws will be held at two-month intervals, with one ATV awarded at each draw. The final draw, described as the grand prize draw, is scheduled for the end of December 2026. The company said the promotion is open to customers across the Maldives and is designed to reward everyday usage of Ooredoo services.

Speaking about the initiative, Khalid Al-Hamadi, Chief Executive Officer and Managing Director of Ooredoo Maldives, said the promotion aims to turn daily connectivity into a more engaging experience for customers. He noted that the ATV was selected as a prize suited to island living, combining practicality and versatility.

To qualify for each draw, customers are required to subscribe to one or more Ooredoo services, including mobile services, SuperNet, Faseyha, or 5G AirFibre. Eligible customers must spend a minimum of MVR 400 on Ooredoo services during the 60 days leading up to each draw and ensure their services remain active and up to date at the time of the draw.

According to Ooredoo Maldives, the promotion is open to both existing and new customers. Winners will be selected through a lucky draw mechanism, with customers allowed to win only once during the first five draws. However, all participants will remain eligible for the final grand prize draw at the end of the promotion period.

The company said the promotion reflects its ongoing efforts to reward customer loyalty while maintaining broad and accessible participation across its customer base.

Maldives High Commissioner Presents Credentials to President of Mauritius

The newly appointed Non-Resident High Commissioner Extraordinary and Plenipotentiary of the Republic of Maldives to the Republic of Mauritius, Masood Imad, presented his Letters of Credence to Dharambeer Gokhool, President of the Republic of Mauritius, at the State House in Port Louis this afternoon.

Following the ceremony, High Commissioner Imad conveyed greetings and felicitations from Mohamed Muizzu to President Gokhool, as well as to the Government and people of Mauritius. President Gokhool congratulated High Commissioner Imad on his appointment and extended his best wishes for a successful tenure as Non-Resident High Commissioner.

During his visit, High Commissioner Imad is also scheduled to pay a courtesy call on Dhananjay Ramful, Minister of Foreign Affairs, Regional Integration and International Trade of Mauritius. The meeting is expected to provide an opportunity to exchange views on strengthening bilateral cooperation, particularly in tourism, people-to-people exchanges, and collaboration in multilateral fora.

High Commissioner Imad currently serves as the High Commissioner of the Republic of Maldives to Sri Lanka and will concurrently hold the position of Non-Resident High Commissioner to Mauritius, with residence in Colombo.

He was accompanied at the ceremony by his spouse, Fathimath Faiga Mohamed, and Fathimath Ghina, Deputy High Commissioner of the High Commission of Maldives in Sri Lanka.

New Customs Office Opens in Maafaru to Support Airport and Regional Services

A new Customs office has been opened in Maafaru, Noonu Atoll, with authorities stating that the facility is expected to improve customs services both within the region and nationally.

Minister of Homeland Security and Technology Ali Ihusaan made the remarks while addressing the official opening ceremony of the building. He said the new office would strengthen service delivery as operations at Maafaru International Airport continue to expand.

In his address, the Minister noted that when the current administration assumed office, around 30 percent of the customs building project had been completed. He said the government placed priority on completing the project, linking it to broader efforts focused on customs operations and regional development.

The Minister said that with increased activity at Maafaru International Airport, ensuring safety and security remains a key concern. He explained that Customs plays a central role in safeguarding goods and passengers entering the country, and that the new office would support these responsibilities while also enhancing airport-related services.

According to the Minister, the Maafaru Customs office will also provide additional services to the region, including the processing of import and export declarations and the clearance of goods. These services are expected to reduce the need for businesses and individuals to rely on customs offices in other parts of the country.

The Minister also spoke about the role of technology in improving customs services, noting the importance of making procedures more accessible and convenient for the public. He further acknowledged the work of Maldives Customs Service in enforcing regulations and intercepting illegal goods.

Dhiraagu Unveils Calendar 2026 Inspired by Marine Interconnectedness

Dhiraagu has unveiled its Calendar 2026, themed “A Year of Marine Interconnectedness,” drawing parallels between the Maldives’ ocean ecosystems and the company’s role in connecting communities across the country. The calendar was revealed during a dedicated event attended by senior Dhiraagu officials alongside ocean and environmental enthusiasts with a shared interest in marine conservation and sustainability. 

The unveiling was led by Dhiraagu’s Chief Executive Officer and Managing Director, Ismail Rasheed, marking the company’s continued use of its annual calendar as a storytelling platform that blends national identity, environmental awareness, and corporate values. This year’s theme places the focus firmly on the natural systems that sustain island life, while reflecting on the importance of connection in both ecological and social contexts.

Speaking at the event, the Director of Brand and Marketing Communications at Dhiraagu, Mohamed Mirshan Hassan, said the calendar highlights the importance of marine interconnectedness and its role in sustaining the environment. He noted that by showcasing the relationships within marine ecosystems, the calendar aims to encourage awareness, responsibility, and action in protecting the oceans, which remains a central focus of Dhiraagu’s corporate social responsibility efforts.

The Calendar 2026 features underwater imagery from across the Maldives, with each month dedicated to specific marine species and the symbiotic relationships that allow them to thrive. These visual narratives emphasise mutual nourishment, protection, and shared habitats, reinforcing the idea that marine life depends on cooperation and balance, much like the relationship between people and the ocean.

Dhiraagu draws a clear comparison between these marine networks and its own national infrastructure. As the country’s digital backbone, the company positions connection as a shared value, reflecting how vilu, falhu, and kandu form a living network that sustains life across the islands. In this way, the calendar links the complexity of marine ecosystems with the systems that connect people, communities, and opportunities nationwide.

MMA Unveils National Strategies on Financial Inclusion and Sustainable Finance

The Maldives has launched two national frameworks aimed at strengthening financial access and mobilising finance for sustainable development, alongside the establishment of a new entity to manage payment infrastructure.

The National Financial Inclusion Strategy and the National Sustainable Finance Roadmap were unveiled during a ceremony held at Barceló Nasandhura. The event was attended by senior officials from the financial sector and government institutions. President Dr Mohamed Muizzu was present at the ceremony, where he formally inaugurated the initiatives.

The National Financial Inclusion Strategy, also described by officials as an economic empowerment framework, focuses on expanding access to financial services and improving their effective use across different segments of society. The strategy is intended to support broader participation in the formal financial system and contribute to long-term social and economic development.

The National Sustainable Finance Roadmap sets out an approach to channel financing towards climate action and sustainable development priorities. It aims to align financial sector activity with national resilience objectives by encouraging green, social, and sustainability-linked financial products, strengthening regulatory frameworks, and directing capital towards areas such as climate adaptation, renewable energy, sustainable housing, and resilient infrastructure.

The ceremony also marked the inauguration of Payment Maldives, which was launched by Ahmed Munavvar, Governor of the Maldives Monetary Authority. Payment Maldives Private Limited has been established by the MMA to develop and manage national payment infrastructure, with a focus on improving the speed and efficiency of services for individuals and businesses.

According to the MMA, the company will operate under separate management and will be responsible for overseeing payment systems, including the Automated Clearing House, as well as the development of retail payment systems in the Maldives.

During the event, President Muizzu also presented tokens of appreciation to five parties in recognition of their contributions and services to the Maldives Monetary Authority.

Ministry to Host Tourism Investment Webinar for Local and Foreign Investors

The Ministry of Tourism and Environment has opened registrations for a tourism investment webinar scheduled to be held next month.

According to the ministry, interested participants must register by Wednesday, 7 January 2025. The webinar will take place on Sunday, 11 January at 10am. Participants may join either as individuals or as representatives of organisations.

In a post on X, the ministry said the webinar forms part of its ongoing investment promotion efforts and will provide information for investors on opportunities within the Maldives tourism industry.

Deputy Minister of Tourism Mohamed Shaain said the session is open to both local and foreign investors seeking information on available investment opportunities. He said the webinar will focus on areas currently open for development, outlining potential opportunities and the benefits of investing in those locations. The session will also include designated areas identified for halal tourism development.

The webinar will present details from the “Invest in Maldives 2025” document published by the ministry. Investment opportunities are categorised into four types: leasing under open bidding, leasing under halal tourism, leasing under closed bidding, and non-concession leases. In addition, plots from local islands identified for hotel development will also be included.

The ministry said the information provided will cover lease acquisition costs, rent, accessibility, and other incentives related to the available investment opportunities.

Authorities Shut Down 56 Illegal Foreign-Run Businesses in Three Weeks

Authorities have closed 56 foreign-run businesses over the past three weeks as part of intensified enforcement efforts to curb illegal commercial activity, according to figures shared during a community meeting in Hulhumalé Phase II.

Speaking at the meeting, President Dr Mohamed Muizzu said illegal expatriate-run businesses remain a recurring concern raised by the public. He noted that enforcement actions carried out through the Ministry of Economic Development and Trade, in coordination with relevant agencies, have resulted in the closure of dozens of businesses operating in violation of the law.

Enforcement activity is being led through the National Task Force on Combating Illegal Expatriate Operations and Businesses, which brings together the Ministry of Economic Development and Trade, the Ministry of Homeland Security and Technology, and key enforcement bodies including Maldives Police Service and Maldives Immigration.

Authorities said the task force is actively investigating suspected illegal business operations across the country, with inspections focusing on compliance with economic regulations, immigration laws, and licensing requirements. Businesses found to be operating unlawfully are being suspended or shut down following these investigations.

President Muizzu said further measures are being implemented to address the issue, adding that enforcement agencies are working to improve the situation in line with public expectations and existing legal frameworks.

Emirates Begins Operations from Velana International Airport’s Terminal 1

Emirates has commenced operations from Terminal 1 at Velana International Airport, marking another step in the gradual transition of airlines to the new passenger terminal.

A special ceremony was held at Terminal 1 to mark the start of Emirates’ services from the facility. The event was attended by Thoriq Ibrahim, along with Emirates Country Manager for Maldives and Sri Lanka Jaber Mohamed, senior Emirates officials, and executives from Maldives Airports Company Limited.

As part of the ceremony, Emirates’ check-in counters at Terminal 1 were officially opened, with gifts presented to 310 departing passengers. A cultural welcome was also arranged for 298 arriving passengers on flight EK660, the first Emirates flight to dock at the new terminal.

Emirates is the fourth carrier from the United Arab Emirates to begin operating from Terminal 1. The airline first started flights to the Maldives on 27 May 1987 and remains one of the longest-serving international carriers in the country.

With Emirates joining Terminal 1, the facility now serves 36 airlines. MACL has stated that its objective is to deliver a high standard of service to all airlines operating to and from the Maldives.

President Muizzu Says Maldives 2.0 Aims to Reshape Governance Framework

President Dr Mohamed Muizzu said the Maldives 2.0 initiative is intended to bring a fundamental shift to the country’s governance system, describing it as a development framework with long-term national significance.

The remarks were made during a consultative meeting held with residents of Hulhumalé Phase I at Rehendhi School Hall, as part of a series of public engagements aimed at engaging directly with citizens, hearing their views, and addressing community concerns.

President Muizzu said work is underway on drafting a National Development Plan, alongside proposed legislation to provide the plan with added legal authority. He also outlined the Government’s 20-year development roadmap, which targets sustained GDP growth and broader national development goals leading up to 2040.

Addressing the economic situation, President Muizzu said the Government is taking steps to prevent fiscal default, including meeting both external and domestic debt obligations without relying on the printing of money. He noted that housing development is progressing at a faster pace than under previous administrations, with agreements already finalised for projects across several islands.

He added that preparations are ongoing for housing projects in the Malé region, with work expected to begin by the end of this month.

During the meeting, residents raised a number of concerns related to Hulhumalé Phase I. President Muizzu assured participants that the Government would review the issues highlighted and take the necessary steps to address them.

Villa College, South Asian University Formalise Academic Partnership

Villa College and South Asian University have signed a Memorandum of Understanding on 19 December 2025, formalising a new partnership aimed at strengthening academic collaboration and higher education development across South Asia.

The agreement sets out a framework for cooperation focused on faculty and student exchange, joint research programmes, and shared academic initiatives intended to deepen regional understanding and intellectual engagement. By bringing together two institutions with a shared emphasis on academic quality, the partnership seeks to expand opportunities for collaboration across borders.

Under the MoU, both institutions will work jointly on curriculum development, teaching initiatives, and academic events including conferences, seminars, and summer and winter schools. The exchange of academic publications and educational resources also forms part of the agreement, supporting wider access to research and learning materials for staff and students.

The partnership further provides for the development of dual and joint degree programmes, joint supervision of Master’s and Doctoral students, staff development activities, and mutual recognition of academic qualifications. These measures are expected to improve academic mobility and create more flexible pathways for higher education within the region.

Cultural exchange and collaborative research are also central to the agreement. Joint cultural programmes and research initiatives are intended to contribute to the preservation and promotion of South Asia’s shared cultural heritage, while strengthening people-to-people connections between the Maldives and India.

The MoU reflects a broader commitment by both institutions to building strong academic networks, supporting regional leadership, and contributing to knowledge creation and sustainable development across South Asia.

Air France Begins Operations at VIA Terminal 1 as Airline Count Reaches 36

Velana International Airport’s Terminal 1 is now serving 36 airlines, following the addition of Air France as the latest carrier to operate from the new terminal, according to Maldives Airports Company Limited.

A special ceremony was held at Velana International Airport to mark Air France’s transition to Terminal 1. As part of the event, the airline’s check in counters were officially opened. Departing passengers received gifts, while arriving passengers on the first Air France flight to use the terminal were welcomed with cultural performances.

Air France is the first French airline to begin operations from Terminal 1. The carrier has maintained a presence in the Maldives since November 2017, and its move to the new terminal adds to the growing list of international airlines now operating from the facility.

MACL stated that efforts are underway to shift all airlines to Terminal 1 by the end of the year. The airport operator also confirmed that Emirates and Qatar Airways are scheduled to initiate their services from the new terminal by the end of this week.

The continued transition of airlines to Terminal 1 forms part of broader efforts to streamline operations and enhance passenger handling capacity at the country’s main international gateway.

December Arrivals Signal Strong Year End for Maldives Tourism

Tourist arrivals to the Maldives continued to rise in December, with figures for the first 20 days pointing to sustained year on year growth during what is traditionally the busiest month for the tourism sector.

Data released by the Ministry of Tourism and Environment show that 135,280 tourists visited the country between 1 and 20 December 2025. This represents an increase of 10.8 percent compared to the same period last year, when arrivals stood at 122,064. The daily average for the period was 6,764 visitors, reflecting steady demand heading into the final stretch of the year.

December’s performance builds on the broader trend seen throughout 2025. By 20 December, total arrivals for the year had reached 2,157,341, up from 1,959,699 at the same point in 2024. While the full month has yet to close, the December figures so far suggest the year end peak season is holding up well, even against a strong base from last year.

China remained the largest source market as of 20 December, accounting for 325,544 arrivals, followed by Russia with 267,341 visitors and the United Kingdom with 194,931. Germany and Italy rounded out the top five markets. The distribution highlights the continued importance of both Asian and European markets during the peak winter travel period.

Resorts continued to dominate accommodation choices, hosting nearly three quarters of all visitors so far this year. Guesthouses accounted for just over a fifth of arrivals, while hotels and safari vessels made up a smaller share. This pattern remained broadly consistent through December, underlining the central role of the resort sector during the high season.

With arrivals in December still underway at the time of reporting, final figures are expected to edge higher by month end. The data nevertheless point to a strong close to the year, with December reinforcing the Maldives’ position as a preferred winter destination and providing momentum as the industry looks ahead to the new year. 

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