Business

Finance Minister Ameer responds to reserve risk concerns

June 6, 2022, 07:57

Malé, Maldives - Amidst serious speculation and the growing concern from the public and analysts, Finance Minister, Ibrahim Ameer has denied claims of a reserve depletion followed by the economic… Continued

Public debt to surpass MVR 100 billion by end of 2022

June 4, 2022, 19:56

Malé, Maldives - The latest update from the Ministry of Finance indicate that the public debt has increased to over MVR98 billion and is MVR182,943 per capita. This is more… Continued

World Bank grants USD 24 million to Maldives as employment support

May 28, 2022, 15:07

Unites States - The World Bank’s Board of Executive Directors today approved a $24 million grant to improve social protection coverage and employability of Maldivian workers under the Sustainable and… Continued

MSS to begin direct cargo service between Maldives – Malaysia & Singapore in July 2022

May 26, 2022, 12:28

Malé, Maldives - Maldives State Shipping has announced the opening of a new direct cargo route between the Maldives and Malaysia, Singapore starting July 2022. The service is set to… Continued

Government retracts amendment to reduce resort rent

May 26, 2022, 12:16

Malé, Maldives - The Economic Council on Wednesday retracted the amendment to the Tourism Act proposing to reduce resort rent. The government states that the decision to reduce resort rent… Continued

Maldives not at risk of default: Finance Minister

May 25, 2022, 18:57

Malé, Maldives - Minister of Finance Ibrahim Ameer on Wednesday stated that the Maldives has no in debt servicing and is not at risk of default. The Finance Minister has… Continued

MIRA discloses 13 resorts in its “Name and Shame” list for failure to pay rent

May 25, 2022, 15:06

Malé, Maldives - Maldives Inland Revenue Authority (MIRA) on Tuesday began to disclose the names of non-filers and non-payers under its Name and Shame Policy. This is the first time… Continued

Maldives at risk of reserve depletion by end of 2023

May 25, 2022, 12:17

United Kingdom - U.S. investment bank JPMorgan on Tuesday warned that the Maldives is at risk of reserve depletion by the end of 2023, signalling high default risks. Emerging markets… Continued

MMA Governor warns against lowering resort tax

May 23, 2022, 19:17

Malé, Maldives - Governor of Maldives Monetary Authority (MMA), Ali Hashim on Monday warned against reducing the resort rent as per the proposed amendment to Maldives Tourism Act (Act No.… Continued

BML adds digital wallet to mobile app enabling seamless payment without physical cards

May 23, 2022, 15:25

Malé, Maldives - Bank of Maldives today announced the launch of BML Pay wallet on its Mobile Banking app. With the upgrade, contactless payment services and wallet-to-wallet transfer services are… Continued