Author: Mohamed Reehaan
Sujatha Haleem, the Chief Executive Officer of the Maldives Pension Administration Office (MPAO) on Tuesday announced resignation. Her resignation comes hot in the heels of recent revelation of MPAO board’s now heavily lambasted decision to proceed with a government-requested utilization of pension funds. Sujatha’s resignation follows a series of high-profile departures from the Pension Office, with both the Chairperson of the board, Ahmed Inaz and board member representing the private sector, Saruvash Adam stepped down from their MPAO board positions in protest against a proposed transaction involving the investment of pension funds into government bonds. Besides Inaz and Saruvash, MPAO’s…
The National Disaster Management Authority (NDMA) on Wednesday, announces helping at least 140 people across 30 apartments affected by the Hiya Tower 5 fire last Friday evening. NDMA distributed approximately MVR 300,000 to these affected individuals. An official from the authority who spoke with a local media said that eight households out of the 38 apartments affected in the fire, declined their assistance. The official further confirms using the funds to provide essential food and accommodation for the affected parties. The financial disbursement reportedly will cover temporary accommodation for a period of five days. This is the largest displacement of…
The Housing Development Corporation (HDC) on Tuesday, has opened applications for stalls at the special Ramadan Market. The market has been established in Hulhumale’ Phase 2, and according to HDC< will be part of several initiatives aimed at preparing for the upcoming Islamic holy month. HDC adds the primary objective is to ensure convenient access to essential food items for Hulhumale’ residents. Stalls will be given free of charge with no rental fees. The units are designated for the sale of fish products, fruits, vegetables and other Maldivian food items. Besides this, HDC said that application forms are now available…
Maldives has welcomed more than 10,000 tourists on the first of February. Ministry of Tourism reports a total arrival of 10,253 tourists on February 1, 2026, adding this marks the highest single day arrival in recent months. Moreover, this is a record single-day arrival when compared with the same month in the last three years. The month of February is still within the ‘peak’ tourism season for the Maldives as tourists from around the world, who are mostly experiencing their winter period, arrive in the Maldives for tropical weather. Highest Single-Day Arrival in February: 2023 | 8,028 arrivals (11 February)…
The Maldivian Gross Domestic Product (GDP) sees an 8.6% increase by the end of December 205, while the country’s national reserves has inched close to a billion dollars. Data from the Economic Update of Maldives Monetary Authority (MMA) this significant increment is due to strong performance in the tourism and fisheries sectors. The national reserves touched 983 million in US dollars by December 2025, which is a 46% jump from 673.9 million dollars the year before. Sector wise, tourism industry showed an 8% growth while fisheries saw a 21% jump, specifically in terms of fish purchases by production and manufacturing…
Circulation of MVR 100 notes see notable jump with the rise of ATM vestibules across the Maldives, expanding the banking network. Maldives Monetary Authority, the national mint, confirms bringing in a fresh batch of MVR 100 notes. The latest is the first to bear the signature of incumbent governor Ahmed Munavvar. Data of MMA shows MVR 100 currency notes are the second largest in terms of the volume in circulation, right behind MVR 500 notes. Breakdown of denominations in circulation: 2022 | 2,846,833 notes of MVR 100 and 6,004,881 notes of MVR 500 2023 | 2,964,059 notes of MVR 100…
Allied Insurance Company of the Maldives celebrated its 41st anniversary on Sunday with a reflection of the company’s strong performance in 2025. In 2025, the company celebrated 40 years of service excellence, successfully combining strong business growth with impactful community, sustainability, and corporate partnership initiatives. Key Highlights of Allied Insurance in 2025: DIVE40 – an ocean awareness and marine conservation initiative ‘Rakka’ Road Safety Campaign conducted in partnership with the Maldives Police Service Allied Fest 2025 Series held across major cities to promote financial awareness and family takaful plans Allied also held the Allied Baiskalu Race; an event encouraging health…
Allied Insurance Company of the Maldives announces its latest partnership; with the Maldives Police Service, as part of a new awareness campaign. The ‘Rakkaa Road Safety Awareness Campaign 2026’ was announced on Sunday morning, February 1st, at the Allied Building during a special press briefing. While speaking at the press briefing, the Chief Underwriting Officer, Ms. Iuliana Rusei highlighted the company’s achievements of the past year and shared objectives for the current year. Following this, Allied Insurance and the Maldives Police Service, formalized their collaboration by signing on a memorandum of understanding. Hussain Luwaiz, the Managing Director of the insurance…
The Maldives inflation hikes 0.95 percent in annual terms according to the Maldives Statistics Bureau. The primary Consumer Price Index (CPI) indicator, which gauges rise of the price on goods, shows this increment last year with the steepest price incline felt in cosmetics, which jumped 4.48 percent. Price on beverages saw a 2.45 percent increase while price on foods saw 0.43 percent increment annually. Oil and related commodities saw price drop last year owing to positive price performances in the global market. Oil and gas prices in the Maldivian market saw a drop of 1.02 percent as a result. While…
According to the Ministry of Construction, Housing and Infrastructure, more than 1600 applications have been submitted to the designated portal for the new social housing scheme within first week of its announcement. The ministry’s statistics show a total of 1,160 applications for housing units (apartments) and another 456 applications for land plots. The ministry also adds that another 7,605 remain in draft stages within the portal. Maldives government announced applications for 7,900 flats and 15,000 land plots of 1,250 square feet each under the scheme. While Male’ citizens are eligible, applicants from other islands are eligible if their duration of…