Author: Mohamed Reehaan

Bank of Maldives (BML) has enabled One Time Passwords (OTPs) for all QR payments. The bank has introduced the additional layer to further enhance security for payments through its application. Once updated, the BML Mobile Banking application will allow customers to make Scan to Pay transactions of any amount using an OTP that can be generated using an Authenticator, SMS, or email. Meanwhile, several steps were made by the bank to protect customers from scams. Earlier in December 2022, the bank enabled authenticator applications to generate OTPs for all transactions processed via Internet and Mobile Banking to protect customers even…

State Electric Company (STELCO) has said it will be introducing a new organizational position in its company hierarchy for better operations management. STELCO is set to introduce Technical Heads in all of its stations, the utility provider’s Managing Director Ahmed Shareef said. According to Shareef, each of STELCO’s stations have a technically certified supervisor who will be responsible to ensure the stations meet all the technical requirements. The supervisors will also be responsible in seeking timely solutions to any technical malfunctions or setbacks. Apart from stationing technical heads, STELCO is also geared to provide capacity development for the managers of…

The “Kula Kula” Festival of Colors will be held at Oaga Art Resort from 07th to 09th March 2023. Taking inspiration from the Hindu festival of Holi and the Brazilian Rio Carnival, both known as a celebration of music, dance, and color that brings people together from all over the world. The three-day festival’s main highlights include the collaborative live mural painting – a first in the Maldives, by American artist Daev Momo and Maldivian street artist Ahmed Sobah (aka Toxicrew). Momo began his experimental outdoor work in the late 90s while some of the notable mural commissions of him…

ELE|NA Elements of Nature at OZEN Reserve Bolifushi has won the “Global Winner” title at World Luxury Spa Awards 2022 in the ‘Luxury Holistic Spa’ category. The World Luxury Spa Awrds is regarded as the pinnacle of achievement in the luxury spa industry offering international recognition. Over 250,000 international travelers vote each year for four weeks to select the winners of the awards. “My team makes me proud every day. A big debt of gratitude goes to our fantastic teams, without whom none of this would have been possible, and of course, we wouldn’t be here without our loving guests…

Fresh vegetable produces from GDh. Vaadhoo fills up the counters at STO Agricenter. The State Trading Organization (STO) opened its Agricenter in an effort to support local farmers and agricultural prospects. The state-owned enterprise is responsible for directly purchasing fresh produce from local farmers, and selling them to tourist resorts and other businesses. According to STO, fresh vegetables produced in Vaadhoo including sweet potato, butternut squash, pumpkin, and tomato have filled up the Agricenter is already available for wholesale and retail purchase. Wholesale prices start from 5 kilograms for each item, while prices vary. Sweet potato has a wholesale rate…

The government revenues and grants increased by 23% in December 2022 compared to the same month in 2021, reported the Ministry of Finance. According to the ministry, the government revenues and grants for December 2022 stood at a total of MVR3,426.6 million. Tax revenues for the month stood at MVR1,488.9 million and non-tax revenues at MVR1,918.3 million. Grants received to the state stood at MVR15.5 million. The government expenditure on the other hand, increased by 47.1% compared to December 2021. Total expenditure for the review month stood at MVR5,426.5 million. Capital expenditure increased by 139.5% and stood at MVR2,837.6 million.…

The total tourist arrivals to the Maldives exceeded 356,000 as of 01st March 2023. According to the latest statistics updated by the Ministry of Tourism, tourist arrivals reached a total of 356,538 by the review date. This is a 27.1% increase when compared with the same period in 2022, during which arrivals stood at 280,538. Tourist Arrivals by Month January: 172,499 February: 177,914 Meanwhile, the Maldives welcomed a total of 6,125 tourists on the first day of March. The daily arrival average by the review date is 5,815 and the average duration of stay is 8.0 days. Top 10 Markets…

The Maldives government has collected a total of MVR100.8 million in Green Tax for the month of January 2023. According to the Ministry of Finance, the government collected a total of MVR100,789,699.40 in Green Tax in the first month of the current year. Green Tax breakdown Resorts: MVR92,717,251.03 Guesthouses: MVR4,415,237.22 Liveaboards/Safari Vessels: MVR1,831,674.91 Hotels: MVR1,823,422.62 Homestays: MVR2,113.62 Top Green Tax Contributors (by atoll) Kaafu Atoll: MVR37,057,452.75 Alif Dhaal Atoll: MVR12,475,187.19 Raa Atoll: MVR8,512,722.84 Baa Atoll: MVR7,537,121.81 Alif Alif Atoll: MVR6,355,322.67 Lowest Contributors (by atoll) Gnaviyani Atoll (Fuvahmulah City): MVR9,203.88 Faafu Atoll: MVR10,459.08 Thaa Atoll: MVR251,999.22 Seenu Atoll: MVR322,709.40 Laamu Atoll:…

The rate of inflation, as a percentage of the national Consumer Price Index (CPI), increased by 7% on all food items in January 2023. According to the National Bureau of Statistics, prices for all food groups went up by 7.82%, which is indicative of a 75% jump this year compared to the overall rate of inflation of food groups last year, which stood at just 1.9%. Apart from food, prices on all consumer items increased by 0.96% in January 2023 compared to December last year; marking the most significant month-on-month inflation bump. On the other hand, the year-on-year change of…

The Maldives government is gearing up to test digital signatures by the end of March 2023, said the Ministry of Environment, Climate Change, and Technology. The new service will be added into the existing Government e-Letter Management System (GEMS), while the digital signature will eliminate the need of printing out applications and scanning them to process. According the the Minister of Technology Aminath Shauna, the government’s plans to improve the GEMS’ inter-office communication system is a significant step towards digitalizing the government services. Maldives government has been working extensively on increasing its digital infrastructure. Earlier the Ministry of Transport and…