Author: Mohamed Reehaan

Maafaru International Airport in Noonu atoll has reopened for international operations after remaining suspended for an expansion project. International operations were suspended in May last year to redevelop the tarmac, including the expansion of the existing runway from 2.2 kilometers to 2.8 kilometers; ensuring more ‘leg room’ for the incoming and outgoing flights at the busy airport. Island Aviation Services (IAS), which operates the airport confirms the upgraded runway at Maafaru can now accommodate Boeing 777-ER300s. The airport, which observes a uniquely higher arrival of private jets throughout every year, is also undergoing an initiative to expand its apron, which…

The Maldives government collected MVR 7.21 billion total revenue in the third quarter this year, reports the Maldives Inland Revenue Authority (MIRA). According MIRA, the total revenue for the third quarter is a 14.1% increase compared to the corresponding quarter last year, and a 22.5% increment compared to initial projections. The authority added that this collective increase is owed to the increase in tourist arrivals for the taxable period of the third quarter by 11.0% compared to the same quarter in 2023. The taxable bed nights subject to green tax reported via the green tax returns submitted for the review…

The Maldives Marketing and Public Relations Corporation (MMPRC/Visit Maldives) has successfully conducted the inaugural ‘Tourism Symposium 2024’ earlier on October 22, 2024 at the Crossroads Maldives. The symposium served as a pivotal platform for the Maldives tourism industry leaders to convene and address the pressing challenges and opportunities shaping the nation’s tourism landscape. “I’m confident that by embracing new ideas and working together, we can build an even stronger and more diverse tourism sector. Let’s continue to innovate and create unforgettable experiences for every visitor that comes our way,” said MMPRC CEO and Managing Director Ibrahim Shiuree. Speaking at the…

The International Financial Services Authority (IFSA) is seeking a viable candidate to lead the agency as its Chief Executive Officer. The agency was established on January 21, 2024 through the powers vested to the President under the Chief Executive. The Ministry of Economic Development and Trade in a statement said that it was seeking a chief executive for a duration of five years. The announcement further said that candidates will be assessed on their work experiences and negotiation skills, before remuneration and allowances are discussed. Besides this, the eligibility criteria for include a Masters’ degree from an reputable institution, and…

Bank of Maldives (BML) on Wednesday announced it has increased the monthly foreign transaction limit for debit cards for students abroad, to USD 1,200. According to the national bank, this limit increment, which would become available in the countries of the residence of these students, will be effective from November 1, 2024. “While there continues to be challenges with USD availability, we also recognize the difficulties faced by students abroad,” said Mohamed Shareef, the first-ever Maldivian CEO of the bank said. “Today’s announcement reflects our commitment to prioritize and support their everyday financial needs while overseas.”

Ifuru Island Maldives has announced the launch of the second season for the first skydiving drop zone in the Maldives. This experience offers an exhilarating adventure for thrill-seekers and tourists. In a groundbreaking joint venture with Skydive Wasaga Beach and Skydive Maldives, the program is expected to kick off in December 2024 and will be available year-round. Leading the program is the highly accomplished Leslie Farkas, who brings over 15 years of expertise in the sport and has, to date, completed over 6,000 jumps with more than 5,000 of those being tandem experiences. Leslie holds multiple instructional ratings, including Coach…

The Maldives Transport and Contracting Company (MTCC) on Sunday announced the successful conclusion of the beach clean-up event held last Friday, October 18, 2024. Dubbed the Suzuki Beach Clean Up, was held at Hulhumale’ Phase II, with MTCC confirming the clearance of 426 kilograms of waste material from the area’s beach. MTCC extended its gratitude to the company’s Managing Director, DCP (retired) Ahmed Saudee, along with the NGOs Save the Beach and Hulhumale’ Masveringe Jamiyya for their collaboration. Besides this, MTCC also thanked the Housing Development Corporation (HDC) and the Waste Management Corporation (WAMCO) for their support as well. Noting…

Bank of Maldives (BML) on Tuesday has opened application for its Scholarship Fund aimed at developing young Maldivians in banking and financing industry. This is the third consecutive year of the scholarship that offers the opportunity to pursue an undergraduate program in a banking and finance related area including accounting, financial technology (FinTech), financial engineering, risk management, or financial reporting and analytics. As part of the program, three students will be selected for this year’s Scholarship Fund, with BML set to cover tuition fees along with a monthly stipend, visa fees, book and establishment allowance. BML will also sponsor the…

Ooredoo Maldives has donated specialized medical equipment worth MVR 16 million to improve the air ambulance service. This donation is part of Ooredoo Maldives’ corporate social responsibility (CSR) initiative, with a core pillar of the company being healthcare. The air ambulance service that commenced on March 1, 2024 has been an instrumental new service in the Maldivian health sector, contributing to a total of 436 cases and transporting 517 patients. While Ooredoo Maldives had provided an initial batch of equipment earlier in March, this new batch of specialized equipment is aimed at further enhancing the capacity of the ambulance service.…

The Maldives Monetary Authority (MMA) on Sunday has granted the operating license to the Development Bank of Maldives (DBM). The license was handed over by Maldives governor Ahmed Munawar, which was received by the Minister of Economic Development Mohamed Saeed during a ceremony on Sunday. The minister, via microblogging social platform X, said the awarding of the license is a significant and historic milestone for the Maldives as envisioned by the President Dr. Mohamed Muizzu, in his manifesto and economic development plan. The central bank, in a statement expressed belief that the commencement of DBM services will enhance the introduction…