Author: Mohamed Reehaan
Bank of Maldives (BML) on Tuesday unveiled its latest offering: a new US Dollar Investment offering enabling customers to earn competitive returns. How Does This Work? To earn competitive returns, customers must invest US Dollars. The invested funds will support the bank’s fee-generating commercial activities while delivering “attractive returns” to investors. The invested dollars will be utilized to facilitate the bank’s commercial operations, enabling investors to earn returns while supporting the sustainability of essential banking services. Information regarding the daily investment pools became available effective Tuesday through BML Mobile App and Internet Banking. The information includes details of the rate…
The Maldives Islamic Bank (MIB) has announced opening the application window for the MIB Guesthouse Awards 2026 on July 15. The bank has published the eligibility criteria for the awards. The MIB Guesthouse Awards is also the only such award introduced in the Maldives to date specifically aiming to promote the expanding local tourism sector and recognize the outstanding efforts of island-level service providers, guesthouses, and the islands themselves. MIB has appointed Crowe Maldives Advisory to ensure fairness and transparency of the evaluation process. According to the bank, the awards have been divided into two tiers to further enhance fair…
The Housing Development Corporation (HDC) has become the first state-owned enterprise (SOE) to meet the disclosure requirements under the Right to Information (RTI) Act. Information Commissioner Aahid Rasheed announced HDC’s milestone in a social media post, in which he praised the corporation for its commitment and compliance. He further noted the company’s proactive stance in making all legally mandated information available to the public. According to the Commissioner, HDC now sets a benchmark for other SOEs. He further urged the remaining SOEs to follow the corporation’s example and meet their own disclosure obligations. Moreover, the Commissioner stressed on the importance…
Maldives President Dr. Mohamed Muizzu, on Monday, has said that the incumbent government is working towards facilitating equity financing to assist citizens with prospective home development plans. Equity financing remains one of the most significant hurdles to obtaining housing loans. Speaking a press conference held at the President’s Office, the Maldives head of state said that the Housing Trust Fund will be expanded, and efforts will be made to provide equity financing with the assistance of the said fund. He affirmed the government’s commitment to implement the solution within this year. “Once equity finance is provided, individuals can approach banks…
The incumbent cabinet on Monday has approved a string of special measures aimed at strengthening public service delivery and ensure completion of government-endorsed projects within endorsed timelines. Cabinet formalized these decisions at its meeting held on Sunday, June 28. Among the measures, the Cabinet resolved on fully operationalizing the government’s Dhuveli portal by the end of the week. The portal will monitor all government projects and activities: synergizing state vigilance on public interest matters. The portal will run in cohesion with the Public Investment Management System (PIMS) developed by the Ministry of Finance and Public Enterprises. Both platforms will be…
Maldives President Dr. Mohamed Muizzu has refuted rumors claiming that shares of the Development Bank of Maldives (DBM) have been sold to the foreign bank, JP Morgan. The President made this statement while responding to a question from a local reporter during a press conference held on Monday. Addressing the questions posed by the press, the President highlighted that there is absolutely no truth to the rumors circulating about this sale. “Regarding the Development Bank, the story is untrue. The claims mentioned connecting the bank to DBM is devoid of truth. There is a lot of gossip spreading widely right…
French Bee is pushing deeper into the Indian Ocean, opening sales on a new seasonal service that links Paris-Orly with both Malé and Colombo on a single triangular rotation. The first flight departs 19 December 2026, with the programme running through 2 May 2027, and, like most new long haul launches, it remains subject to government approval. Rather than fly two separate point-to-point routes, French Bee will operate one continuous loop: Paris-Orly to Malé, a short hop across to Colombo, and back to Paris. Passengers can book either leg on its own or string both island markets into a single…
For two decades, the Maldivian state has run on paper, queues and ferry trips. Records sat in silos, each ministry asking citizens for the same details a dozen times, and a population scattered across roughly two hundred inhabited islands paid for that friction in time and travel. The Digital Transformation Bill, the “Digital 2.0” bill, is the government’s attempt to end that era by statute. It is one of four linked bills moved under the government’s Maldives 2.0 initiative: a digital-transformation bill, a separate digital-identity bill, a cyber-security bill that creates a National Cyber Security Agency, and a personal-data-protection bill.…
The Maldives Parliament is seeking a sit down with the Maldives Qualification Authority (MQA) to go over the challenges in countering fake or forged academic credentials. North-Galolhu parliamentarian Mohamed ‘Kudoo’ Ibrahim sent a letter, addressed to the Speaker of the Parliament, Abdul Raheem Abdulla. In his letter, the MP highlighted prevailing challenges in effectively combatting forgeries in relation to academic certificates. Major issues highlighted in the letter include: Students receive only symbolic certification without academia Subjects taught in unauthenticated programs do not meet criteria of the international academic standards Employees lack practical knowledge despite academic credentials Employers’ lack of confidence…
The Dhivehi Investment Nafa Fund opened its newest offering, Dhinaf-48, today, putting MVR 40 million worth of fresh investment opportunities into the market. The launch follows the successful close of the fund’s earlier round, Dhinaf-36. Dhinaf hosted a special ceremony at its head office to mark the occasion. Investors can apply from today. Who Can Take Part of How to Qualify Dhinaf operates as an investment fund registered under the Capital Market Development Authority (CMDA). The fund grants investment opportunities according to criteria that meet CMDA regulations. Individuals who wish to join must earn at least MVR 1 million a…