State expenditure to exceed income in 2022
Male', Maldives - Finance Ministry of Maldives has anticipated the State to receive MVR 23.7 billion as income in the upcoming year. While the Finance Ministry forecasts an income of… Continued
Business
Immigration implements changes to halt fake bookings
Male', Maldives - Immigration Controller Mohamed Ahmed Hussain (Hanafee) stated on Wednesday that changes were brought to Maldives’ immigration system, in lieu of rising numbers of tourists left stranded due… Continued
Moody’s downgrades the credit rating of Maldives
Male', Maldives - Moody's Investors Service (Moody's), this Tuesday downgraded the Government of Maldives long-term local and foreign currency issuer and long-term foreign currency senior unsecured ratings to Caa1 from B3,… Continued
Schools were not used as Ijarah to borrow money: Finance Ministry
Male’, Maldives – Finance Ministry stated that the government has so far not taken any debt by using schools as Ijarah asset and that any statement saying otherwise is untrue.… Continued
Maldives government uses 10 schools as assets to sell Sukuk bonds
Male', Maldives - Spokesperson of President's Office, Mabrook Azeez stated that the government is using government schools in the capital Male' city as assets to sell Sukuk bonds. The statement… Continued
Auditor General orders to reclaim over MVR 400,000 issued as income support allowance
Malé, Maldives - Auditor General of Maldives Hussain Niyazy has demanded to reclaim over MVR 400,000 issues as income support allowance to ineligible individuals. According to the audit report by… Continued
Dollar rate drops to MVR 17.80 amid tourism sector tax payments
Male', Maldives - Dollar exchange rate in Maldives decreases by a great extend to MVR 17.80 due to exchanging dollars for tax payment in the tourism sector. While Maldives is… Continued
MIRA collects MVR 624 million as revenue in July 2021
Male’, Maldives - Maldives Inland Revenue Authority (MIRA) reveals that they have collected MVR 624.07 as revenue in July 2021, including all USD collections. The monthly revenue collection report states that… Continued
Malaysian company files lawsuit against Maldives govt for failure to pay costs
Malé, Maldives - WZR Property Sdn Bhd group has filed a lawsuit against the government, for failure to make a payment of USD 22 million owed for the work done… Continued
Cochin ferry to transport cargo from Sri Lanka to Maldives
Male', Maldives - Government of India grants permission for Cochin ferry to transport cargo from Sri Lanka to The Maldives. Speaking to local media outlet Sun, Managing Director of Maldives… Continued
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