Author: Mohamed Reehaan
The Maldives Islamic Bank (MIB) has launched an Instant Visa Debit Card allowing customers with the ease of immediate activation by linking it to customer accounts. MIB said that the card was introduced towards ease of service to customers. The newly introduced Instant Visa card offers easy linking to customer accounts through an online account opening service. Customers can easily activate the card by scanning the provided QR code. The card has been made available from MIB branches and sales centers.
The Maldives Association of Yacht Agents (MAYA) has said that the new regulations have provided temporary solution to bring cruise lines and yachts to the Maldives. The association expressed concern about the imposition of GST on individual rooms of cruise lines under the regulations government the movement and berthing of tourist vessels arriving from abroad. The regulation was put in place by the former government. Due to this new regulation, cruise liners began to opt for other, cheaper destinations instead of the Maldives. Following Minister of Tourism Ibrahim Faisal’s commitment in finding a proper solution, the ministry issued regulations mandating…
The Ministry of Finance said that the cessation of state budget would not impact cashflow of the government, if it has regular access to loan facilities and generate projected revenue as per the state budget for 2024. The current administration led by President Dr. Mohamed Muizzu has terminated the process of printing money, or otherwise known as the overdraft from public bank accounts. The practice commenced earlier in Covid-19 pandemic to adjust for depleting state cashflow and its management amid the crisis. Government’s overdraft for the past three years have reached MVR 8.2 billion, with majority of this directed towards…
Minister of State for Higher Education Mariyam Fizana has been appointed as the new CEO of the Maldives Qualification Authority (MQA). Previously, the position was held by Dr. Abdul Hannaan. The new CEO’s appointment was confirmed by the Ministry of Higher Education, Labour and Skills Developmend via X. Fizana previously served as the Director General of MQA, and also served as the Dean of the Faculty of Education of the Maldives National University (MNU) from 2017 to 2021.
The Maldives government has decided to establish a designated company to promote re-exportation and transshipment, thereby introducing the third major economic sector to the country. The decision was made following discussions held at the recent cabinet meeting. Minister of Economic Development and Trade Mohamed Saeed has since affirmed the government’s commitment towards formation of said company, which would be named Maldives Industrial Development Free Zone. Minister Saeed, via X, outlined the company’s focus would be on safeguarding the economic stability of the Maldives, and promoting a value-added economy, and engaging in transshipment activities, as well as facilitating re-exportation. The company…
Maldives President Dr. Mohamed Muizzu has ratified the Industrial Relations Bill on Monday, January 02, 2024. The bill was passed by the parliament at the 37th sitting of its third session held on Monday, December 18, 2023. The bill outlines activities promoting the exercise of constitutional rights including the right to form trade unions and participation in, or abstinence from their activities and the parameters for such rights. The bill further specifies the procedures in creating employee and employer trade unions, the procedures on resolving disputes between the said parties and other trade union-related details. Under the newly ratified bill,…
Maldives has welcomed its first tourist of the year early on Monday morning, January 1, 2024. The Ministry of Tourism has announced an annual tourist arrival target of two million for the new year. The first tourist to land in the Maldives in 2024 was Duncan Moore, a UK citizen, which also marks his first-ever visit to the island nation. Minister of Tourism Ibrahim Faisal along with senior officials of the ministry welcomed Moore at Velana International Airport (VIA) on Monday early morning.
Minister of Tourism Ibrahim Faisal has said that the current government aims on expediting the development of 63 islands allocated for tourism, for which the state is currently holding discussions. Minister Faisal, while speaking in a program aired by the state-run media, said that he has gathered information on the islands leased for tourism since taking charge of the ministry. He reports that the ministry’s statistics showed 63 have been leased for resort development, and are poised to open in the future, while some of the islands have been leased 10 to 20 years back. The ministry launched discussions with…
The Maldives Airports Company Limited (MACL) has said that with the development of new parking avenues, the Velana International Airport (VIA) is ready for tourism peak season. A press release by MACL said VIA has leveraged its new parking slots (RAMP areas) at the international airport venue to prepare for the winter tourism peak which would be able to accommodate a total of 68 jets; a historic number for the airport. MACL further said the accomplishment was testament to the efficiency and capacity enhancements brought about by the newly designated parking areas for the General Aviation aircraft. Before the new…
Maldives Islamic Bank (MIB) has established new service centers in Dhaalu atoll Kudahuvadhoo and Alifu Dhaalu atoll Mahibadhoo. The new centers were opened as part of the bank’s efforts for nationwide expansion. MIB adds that while most of the bank’s services are now online, the two centers will provide services to customers who require them. The two centers aim to strengthen the relationship between the bank and its customer, enhancing the ease of access. The centers provide cash deposits and withdrawal facilities.