Author: Mohamed Reehaan
The Qasim Ibrahim School of Buinsess at Villa College has achieved accreditation from the South Asian Quality Assurance System (SAQS) for 13 of its academic programs. The Association of Management Development Institutions in South Asia (AMDISA) manages SAQS, which is a regional accreditation system with the aim of maintaining high standards among business schools. To date, only 66 universities and business schools within the South Asian region have attained this prestigious recognition. Villa College’s Business School has become the first-ever in the Maldives to achieve the accreditation. Villa College Business School Programs That Received SAQS Accreditation: Master of Arts in…
As part of the major strategic project to relocate the Maldives’ primary commercial port to Thilafushi, the Government has announced an invitation for consultancy firms to undertake the detailed design of the terminal and all associated facilities. This initiative stands as one of the most significant economic infrastructure projects in the Greater Male’ Region. Notably, key components of Phase 1 were contracted to China Harbour Engineering Company (CHEC) in February 2026. The decision to relocate the 40-year-old Male’ Commercial Harbour to Thilafushi represents a pivotal policy shift by the current administration. By reversing the previous administration’s plan to develop the…
Allied Insurance Company of the Maldives on Wednesday, March 11, has brought to public’s attention of fraudulent social media accounts contacting participants of the Allied iPhone Drop Giveaway. The premier insurance service provider in Maldives, in a statement said it was alerted to these fraudulent accounts targeting the campaign and were requesting participants to complete a Google Form. Allied informed the public that the company has not “sent any Google Forms or external links to participants of the giveaway”, and added that any messages that asked participants to fill out forms or share personal information through unofficial links are not…
The People’s Majlis on Sunday, March 8, passed an amendment to the Employment Act, exempting micro, small, and medium-sized enterprises (MSMEs) from paying the quota fees required when recruiting foreign workers to the Maldives. The bill, submitted on behalf of the government by Madaveli MP, Mohamed Shameez, was passed unanimously with the consensus of all 62 members present at the sitting. During the committee stage, no changes were made to the amendment originally proposed on February 17. Under this new provision, the Cabinet is empowered to exempt employers belonging to specific categories of business from paying the quota fee. Criteria…
Allied Takaful on Sunday, March 8, announced the launch of a special Kaman Takaful promotion, offering customers the opportunity to begin their protection journey with added value. The promotion will run from March 8 to May 7, during which customers who take a Kamana Takaful plan will receive their first month’s contribution free. Kamana Takaful is a Shari’ah-compliant protection and savings plan designed exclusively for women, combining financial protection with long-term savings benefits. The plan is structured around three key pillars; Savings, Security, and Flexibility. Participants of this plan will receive a wide range of benefits, including an emergency fund…
The Maldives Monetary Authority (MMA) has today appointed Mohamed Ishan as the Head of the Financial Intelligence Unit (FIU), the national body responsible for coordinating efforts to combat money laundering and financing of terrorism. The appointment was made following an internal recruitment process open to MMA staff, where candidates who expressed interest underwent a rigorous interview process. Prior to this appointment, Ishan served as the Head of Finance at the MMA. Ishan, a highly qualified and experienced professional in the financial sector, is a Chartered Accountant and holds associate membership with the Chartered Institute of Management Accountants (CIMA) in the…
The Bank of Maldives (BML) has announced its innovative digital wallet, Swipe, as the official wallet of Visit Maldives. The strategic partnership between Swipe and Visit Maldives was formalized during a signing ceremony held at BML. The agreement was signed by Mohamed Shareef, CEO and Managing Director of BML and Ibrahim Shiuree, CEO and Managing Director of Visit Maldives. Under this agreement, Swipe will be positioned as the premier payment solution for tourists visiting Maldives as a convenient, secure payment solution. Swipe is a 100% Maldivian-developed multi-currency digital wallet, built in compliance with domestic regulatory frameworks and international payment industry…
The State Trading Organization (STO) on Thursday, March 5, announced the new fuel prices. According to STO, petrol will now be sold at MVR 16.01 per liter. Previously petrol was sold for MVR 13.50 per liter, indicating an MVR 2.51 increment. Similarly diesel prices have increased to MVR 17.54 per liter from MVR 13.92 per liter, which is an increase of MVR 3.62. This increment in fuel prices reflect the current geopolitical conflict, that has recently escalated in the Middle East. Fighting involving Iran, Israel and the US has disrupted energy infrastructure and shipping routes. Prices have risen across the…
The Burunu Boma Global Sport Fishing Tournament is now officially open for registration, inviting elite anglers from around the world to compete in the Maldives’ premier sport fishing event. The Burunu Boma Global Sport Fishing Tournament will kick off from June 13 to 15, 2026. Visit Maldives Corporation (VMC) is organizing this flagship initiative to celebrate the country’s deep-rooted fishing heritage. Following the historic success of the 2025 inaugural edition, which saw intense competition and dynamic daily leaderboards featuring top-tier international teams, this year’s tournament is expected to be more than double in size. The competition is a high-stakes test…
The strategic economic measures of the current administration have significantly bolstered the state’s financial standing, yielding USD 222.8 million in foreign currency revenue during the first two months of 2026. According to the Weekly Fiscal Development of the Ministry of Finance, for the 8th week of 2026, the state recorded a total revenue and grants of MVR 7.8 billion between January 1, 2026 to February 26, 2026. During the same period, total expenditure stood at MVR 5.9 billion. Consequently, the state achieved a record budget surplus of MVR 1.9 billion by the end of this period. This represents a substantial…