Author: Mohamed Reehaan
Bank of Maldives (BML) on Wednesday, assured its staff were not involved in cases where money from customer bank accounts have ‘vanished’. Parliament’s State-Owned Enterprises (SOE) Committee on Wednesday summoned officials from BML, Maldives Monetary Authority (MMA), and Maldives Correctional Services to question them about the implementation progress of recommendations set forth by the committee in a 2023 report regarding the issue. At the committee meeting, BML’s Director of Retail and SME Banking Moosa Nimal said there had been no indication of the bank employees’ involvement according to the investigation from relevant authorities. Nimal also said that 1,400 scam cases…
Maldives government held talks with the United States Ambassador Hugo Yue-Ho Yon in line with the recently concluded TIFA talks. Minister of Economic Development and Trade Mohamed Saeed met with Ambassador Yon, and held their focused on the areas discussed at the third meeting of the US-Maldives Trade and Investment Framework Agreement (TIFA) Council. Saeed confirmed that the discussions focused primarily on facilitating wider access to e-commerce platforms for Maldivian entrepreneurs as envisioned by President Dr. Mohamed Muizzu. At the earlier TIFA talks, Minister Saeed met with the Assistant US Trade Representative (AUSTR) Brendan Lynch. Saeed, on behalf of the…
Housing Development Corporation (HDC) has announced it is seeking developers for the operation of food trucks in Hulhumale’. The corporation has invited all interested parties to submit Expression of Interest (EoI) forms, which HDC said will provide equal opportunities for the proponents. HDC said the preferred business model for the operation is a fixed fee model, but added that proponents had the right to submit a business model of their choice, but the benefits of the selected model to both parties must be illustrated properly. In the case, where the project attracts more than one proposal, HDC will select the…
The Middle East and North Africa’s largest low-cost carrier, Air Arabia, will be launching direct flights to Male’ effective from October 27, 2024. The low-fare airline will operate direct flights between Velana International Airport (VIA), Male’ and Sharjah International Airport, UAE. Air Arabia said the new Maldives-Sharjah route will provide travelers with “even more convenient and affordable options” allowing travelers to explore the four-time World’s Leading Destination winner in the Indian Ocean. The Air Arabia Group CEO, Adel Al Ali said, “The launch of our non-stop flights to the Maldives highlights our commitment to offering our customers more travel options…
Maldives President Dr. Mohamed Muizzu on Monday, has appointed Fathimath Dhiyana as the first-ever female Commissioner General of Customs. Her predecessor, Yoosuf Maniu Mohamed, who is the first Customs CG of this administration, has been reassigned as the State Minister of Homeland Security and Technology. President Muizzu has appointed Dhiyana under the presidential discretion granted by Article 6(b) of the Maldives Customs Act. She has been appointed at a State Minister level. Prior to her current engagement, she had been the Deputy Commissioner of Customs.
Minister of Foreign Affairs Moosa Zameer has met with China’s Member of Political Bureau of the CPC Central Committee, Director of the Office of the Central Commission for Foreign Affairs, and Minister of Foreign Affairs Wang Yi for extensive bilateral discussion in Beijing, on Monday. The two held official talks on bilateral cooperation between the Maldives and China; with a focus on seeking the Asian economic powerhouse’s assistance with Maldives’ planned fiscal reforms. Minister Wang welcomed Zameer to China, and reaffirmed Beijing’s commitment to further strengthen the historic and friendly relationship between the two nations. Minister Zameer, in similar fashion,…
Tradenet Maldives has announced the planned electronic platform for international trade, part of the Maldives National Single Window (MNSW) project, will be launched on August 2024. The MNSW project aims to establish a centralized digital platform, with the objective of streamlining international trade by enabling trade and transport parties to submit information and documents through a single entry point. This means, businesses and individuals can electronically submit all import, export, and transit related documents which would eliminate the need to interact with multiple entities, which in turn will reduce the paperwork and clerical tasks. The electronic platform will feature secure…
Fenaka Corporation has announced the installation of solar power infrastructure in Thaa atoll, which falls under the ‘Poised Project’. The utility provider will be installing a 2.49-megawatt solar photovoltaic (PV) panels with a 1.9-megawatt battery energy storage system. Besides this, solar panels have been installed and pre-commissioned across majority of Thaa atoll islands, with commissioning expected for remaining islands of the atoll before July ends. Fenaka Corporation further announced it will be installing solar power infrastructure in both Baa and Raa atolls. This include the installation of a 2.74-megawatt solar system in Baa atoll and another 3.599-megawatt system in Raa…
The picturesque island nation, Maldives in the Indian Ocean, is at an economically critical juncture due to continued escalating debt burden. While the country has been grappling with mounting fiscal challenges for years, the country’s debt has risen to such an extent that heavy doubts are cast over the country’s ability to meet its debt obligations. Over the past decade, the island nation has engaged in substantial borrowing to fund the country’s infrastructure projects, stimulate economic growth, and also address the impact of the Covid-19 pandemic in 2020. The pandemic stymied the momentum of Maldives’ economic growth since its strongest…
Dhiraagu, the largest telecommunication and internet service provider in the Maldives, on Thursday announced it has signed as the Digital Partner for CAVA U20 Women’s Volleyball Championship to kick off in the Maldives. The Volleyball Association of Maldives (VAM) is hosting the international tournament, which is held in collaboration with the Central Asian Volleyball Association (CAVA). CAVA is an affiliated body of the Asian Volleyball Confederation (AVC) and the Federation Internationale de Volleyball (FIVB). The tournament will feature 14 nations from Central and South Asian region. “We are delighted to come aboard as the Digital Partner of the CAVA U20…