Author: Mohamed Reehaan

MedTech has disbursed MVR 2 million in its debut Sukuk payout. Earlier in 2023, MedTech Diagnostic sold Sukuk to interested investors in a bid to increase the company’s capital, which it aimed to redirect towards the development of a health and rehabilitation center in Hulhumale’. The company sold MVR 30 million in Musharaka Sukuks to raise the funds required for the facility. First National Finance Corporation (FNFC) the Sukuk’s arranger, said the periodic profits have already been deposited to investor accounts on Monday, November 27. MedTech, a local medical equipment and consumables supplier in the Maldives, listed its debut Sukuk…

Minister of Economic Development and Trade Mohamed Saeed on Monday, November 27, said that work will commence within the first 100 days of the current administration on building commercial ports in both Haa Alifu atoll and Laamu atoll. The minister via X said that work on constructing a commercial port near Laamu atoll Gaadhoo, an integrated commercial port and logistics facility under the Ihavandhippolhu Integrated Development Project Commercial Port, and the Male’ Commercial Port will be announced and commenced in the near future. Maldives President Dr. Mohamed Muizzu had also pledged to establish a transshipment harbor with bunkering services at…

Maldives has signed on a trade and economic agreement with Türkiye. The “Agreement on Trade and Economic Cooperation Between the Government of the Republic of Maldives and the Government of the Republic of Türkiye” was signed during President Dr. Mohamed Muizzu’s official visit to Türkiye, during his meeting with the Turkish President Recep Tayyip Erdoğan. The agreement was signed by Minister of Economic Development Mohamed Saeed on behalf of the Maldivian government and Professor Dr. Omer Bolat, the Minister of Trade on behalf of Turkish government, in the presence of Presidents Muizzu and Erdoğan. Both leaders met for official talks,…

A parliamentary committee overseeing government performance is set to verify if the cabinet ministers appointed by President Dr. Mohamed Muizzu possesses dual citizenship, or passports of foreign countries. In line with the constitutional requirements, cabinet minister nominations undergo parliamentary approval, and the committee initiated an inquiry into the matter. At the committee meeting, MP Mohamed Falah expressed concerns about the citizenship status of two or three ministers who resided abroad for an extended period, suspecting the ministers may hold foreign passports, or dual citizenship. Article 130(a) of the Constitution mandates that ministers must exclusively be citizens of the Maldives without…

Fushifaru Maldives recently hosted Bollywood-newcomer and rising star, Shanaya Kapoor, daughter of veteran Bollywood actor Sanjay Kapoor. The actress, currently with a slew of starring roles including Bedhadak and Vrushaba; both slated for release later, enjoyed an unforgettable escape to the Maldives. During her stay in Fushifaru, Shanaya experienced the “epitome of luxury and tranquility.” The highlight of her visit was the sumptuous birthday dinner at the surf’n’turf fine dining restaurant, Raakani. She also indulged her senses at Fushifaru’s award-winning Heylhi Spa as well as the first-class Indian cuisine at the resort. Cousin to notable Kapoors in Bollywood including Janhvi,…

LUX* South Ari Atoll has unveiled their latest accommodation offerings for tourists; the Romantic Beach Pool Villas. The property has unveiled 10 one-bedroom Romantic Beach Pool Villas, the latest inclusion to the property’s luxury abodes, measure 136 square meters. The villas offer direct access to the beach and lagoon, and feature in-villa private infinity pools as well. The villas are ideal for couples, especially newly-weds and honeymooners and for small families. The Romantic Beach Pool Villas feature their own secluded spot in the beach with the pool overlooking the panoramic ocean. The Romantic Beach Pool Villas feature master bedrooms, all…

President Dr. Mohamed Muizzu has departed for Turkey on Sunday morning, November 26, on his first official state visit. The President’s Office said that, during his visit at the invitation of Turkish President Recept Tayyip Erdogan, President Muizzu will meet senior Turkish officials to discuss mutual collaboration and strengthening of diplomatic relations. President Muizzu is accompanied by First Lady Sajidha Mohamed along with a high-level government delegation. President Muizzu’s first official visit was initially scheduled for Saudi Arabia. However, the trip was postponed to a later date. His Saudi Arabian visit will follow his trip to Turkey. The presidential couple…

The Minister of Tourism Ibrahim Faisal met with senior officials of Maldives Marketing and Public Relations Corporations (MMPRC) to understand the industry overview. The minister met with the Deputy Managing Director Neesha Shahid and Chief Marketing Officer Fathimath Afra of MMPRC on November 20, 2023. During the meeting at the Ministry of Tourism, officials from MMPRC highlighted the past works of the tourism board and future plans of tourism promotional activities. Besides the minister, the Permanent Secretary of the ministry Fathimath Nilfa attended the meeting as well. On November 21, the minister met with key tourism industry stakeholders as well.…

As of November 22, 2023 the Maldives has attracted an annual total of 1,640,826 tourists; which is exactly 259,174 short of hitting the annual target of 1.9 million set by the outgoing government led by former President Ibrahim Mohamed Solih. Since the 2020, this year also saw the most notable changes in the tourist arrivals both in annual term growth as well as the market composition. This is in large part due to the resumption of Chinese traveler market to the Maldives earlier in January 2023. China, as a tourist market, has been absent from the top 10 source markets…

Maldives government implements a system facilitating submission of grievances regarding civil rights infringement or violation. President of the Maldives Dr. Mohamed Muizzu set up the “Office for Civil Rights” under the Attorney General’s Office mandate. The office on Thursday, November 23 said they will look into complaints regarding the protection of civil rights guaranteed to the public by the Maldives Constitution and laws. As per the Attorney General’s Office, action will be taken based on formal complaints made by the public regarding denial of civil rights. Complaints regarding denied civil rights will be handled as per the “Guidelines on filing…