Author: Mohamed Reehaan

Dr. Abdulla Muththalib, the Maldivian Minister of Housing on Wednesday, announced the government’s plan to develop 12,000 new housing units in 2026. The minister made the remarks during a state-run Public Service Media’s program. During said program, the minister recalled the government’s recent contract with the Bank of Maldives (BML) to develop 3,272 housing units – which is already in progress. The project entails development of 312 units in Vilimale, 546 units in Hulhumale’ Phase 1 and 2414 units in Hulhumale’ Phase 3. “Site mobilization for the project will commence this month, with expected project completion in two years,” said…

The Maldives President, Dr. Mohamed Muizzu earlier on January 15th made the announcement of a major change to the government’s structure. On Thursday last week, the President’s Office confirms the Maldivian head of state’s decision to abolish the National Centre for Information Technology (NCIT) and replace it with the Maldives Digital Service. According to President’s Office, this new authority will operate under the  administrative oversight of the Ministry of Homeland Security and Technology. NCIT’s dissolution and the establishment of MDS are pursuant to Article 116(a) of the Maldives Constitution, which grants President the discretion to issue such directives. President’s Office…

The most recent updates from the Ministry of Finance confirms the current government concluded 2025 with a deficit of MVR 3.48 billion. As per the latest statistics from the ministry, the government spent MVR 43.12 billion last year out of the approved MVR 49.2 billion state budget. As for earnings, while projections put the annual income at MVR 39.8 billion, government earned MVR 39.6 billion by the year-end. Revenue Breakdown: Tax Revenues: MVR 29.2 billion Non-tax Revenues: MVR 10.04 billion Grants: MVR 415.2 million Looking at the total revenues of the state last year, tax revenues increased from MVR 26.4…

The tourism industry of the Maldives is off to a spectacular start in 2026 as the country attracts more than 120,000 so far in January. Statistics from the Ministry of Tourism shows an annual increment of 10% in arrivals in comparison to the same period last year. This increment trajectory remains the same when the two years before are factored in as well. As per statistics, tourist arrivals for the same period in 2025 stood at 117,000. Russia is the top tourist market to the Maldives so far this year with more than 20,000 arrivals. Italy is the second strongest…

The Bank of Maldives (BML), on Monday made the announcement of formalizing its partnership by way of a contract with the Asian Institute of Chartered Bankers (AICB). This partnership, according to BML, will help the bank in transforming and developing the country’s constantly evolving banking sector. Chief Executive Officer of the bank, Mr. Mohamed Shareef and AICB’s front-man Edward Ling signed the agreement at a ceremony held for the cause. Under the agreement, AICB will be providing its expertise and professionals to help develop the banking sector in the Maldives; which would include training initiatives for banking sector employees. Further…

The Maldives government is preparing to acquire a loan facility of over USD 100 million from Abu Dhabi Fund for Development (ADFD). According to a local media outlet, government is seeking this new loan facility for tourism development. Despite talks of a new loan acquirement, it is unclear if the state and the fund have entered into a formal agreement. The local media further states that Minister of Finance Moosa Zameer has already flown to United Arab Emirates (UAE) to formalize this arrangement. While the exact loan amount and the interest on it remains unclear, reports claims the facility will…

Waste Management Corporation (WAMCO) says that it is unable to deposit pensions for its employees owing to financial constraints. The state-owned corporation says it does not generate sufficient income to be capable of both paying salaries and crediting pensions for its employees. WAMCO is facing serious cash-flow issues, primarily rooting from outstanding payable to the company from a large catalog of debtors. Many of these include customers with significant outstanding sums they owe the corporation. The news comes to light following a Right-to-Information (RTI) application a private individual submitted recently. In its response, WAMCO notes that it has been unable…

Crown and Champa Resorts is among the top local tourism and hospitality brands, announces bold new employee-centric decision to pay all of its resort employees in US dollars. Crown and Champa Resorts, founded by two tourism industry pioneers of the Maldives, Mohamed Moosa (Uchchu) and Hussain Afeef, is one of most prominent hospitality brands that is fully locally owned. The hotelier group pays its employees, which is beyond 3000 now, in local currency, Maldivian Rufiyaa until now. But with their most recent decision, all Crown and Champa Resorts’ employees who work across the hotelier brand’s resorts will receive salaries in…

The Bank of Maldives (BML) on Saturday, January 11, made announcement of a new promotional event ahead of this year’s Ramadan. Dubbed “Ran Furusathu 2026” which translates to ‘Golden Opportunity 2026’, this promotion entails a prize of MVR 100,000 for the winner. According to the Maldivian national bank, this promotion that has begun now will remain effective until March 16. BML further notes customers who shop from outlets listed for eligibility as per the bank, will stand the chance to win weekly cases prizes and become eligible to take part in the raffle for the grand prize. The bank also…

The premier telecommunication and internet service provider in Maldives, Dhiraagu, announces a new promotion specifically for fiber broadband internet. The new ‘Fiber Unlimited’ promotion entails prizes that include smart cameras and 65-inch televisions on a weekly basis. Dhiraagu adds that the promotion is applicable for both existing ‘Fiber Unlimited’ customers who plan to upgrade their packages as well as fresh subscribers. The promotion which is already in effect, will last until the end of January, adds Dhiraagu. New customers, who subscribe for Fiber Broadband packages of 30MBP/s and above will receive a free indoor smart camera, and customers who subscribe…