The World's Window on Maldives
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The Maldives Monetary Authority (MMA) has revoked the money-changing licence of Express Money Exchange Private Limited after regulatory supervision found violations of the Money Changing Business Regulations. The decision, announced on Thursday, 20 August, comes as authorities strengthen oversight of the foreign exchange market and seek to curb unregulated dollar trading. The MMA did not […] The…
Bank of Maldives (BML) has become a Platinum Partner of the 11th International Conference on Intellectual Advancement (ICIA 2026), the flagship annual research conference organised by the Islamic University of Maldives (IUM). The main conference will take place from August 30 to 31, bringing together scholars, researchers, students, practitioners and policymakers for academic dialogue, research…
Electricity generation capacity in R. Inguraidhoo is set to nearly double following the delivery of a new 800 kW generator, as Fenaka Corporation moves to strengthen the island’s power supply. The new generator has already been transported to Inguraidhoo, with installation work currently underway at the island’s powerhouse. Fenaka said the work is expected to […] The post Inguraidhoo power…
The Maldives Monetary Authority (MMA) has opened public consultation on two proposed regulations covering consumer protection in the financial sector and customer identification requirements for financial institutions. The central bank is seeking comments on the draft Financial Consumer Protection Regulation and the Simplified and Electronic Customer Due Diligence Regulation. Members of the public…
State Trading Organization (STO) Construction Solutions has launched its annual “Salhiey Makita” promotion, offering customers the chance to win an MVR 50,000 grand prize alongside weekly rewards and discounts of up to 50% on selected Makita products. The month-long promotion will run until September 20, with customers receiving one lucky draw coupon for every purchase […] The post STO launches…
Maldives Transport and Contracting Company (MTCC) has begun discussions with Housing Development Corporation (HDC) to secure land for the revival of its long-awaited Hiyaa staff housing project, nearly a decade after the original scheme was announced. Senior officials from the two state-owned companies met this week to discuss the allocation of land required to move […] The post MTCC moves to…
State Trading Organisation (STO) has introduced GE HealthCare’s Vscan portable ultrasound devices to the Maldivian market, offering healthcare providers a more mobile approach to diagnostic imaging that could expand access to ultrasound services across the islands. The devices were officially unveiled at a ceremony held at Hotel Jen by STO Chief Executive Officer and Managing […] The post STO…
Housing Development Corporation (HDC) recorded a net profit of MVR 2.01 billion in 2024, as the Auditor General issued an unqualified opinion on the state-owned company’s financial statements for the year. The Auditor General’s Office published HDC’s 2024 financial statement audit on July 16, 2026. An unqualified opinion indicates that the audited financial statements were […] The post HDC posts…
Sri Lanka has emerged as the country with the most favourable view of India, while Pakistan sits at the opposite end of the spectrum, according to a new Pew Research Center survey spanning 36 countries. The survey, conducted between February and May 2026 among more than 42,000 people, found that India maintains a slightly more […] The post Sri Lanka tops the world in positive views of India, Pew…
Individuals caught buying or selling US dollars and other foreign currencies outside the official exchange rate could face fines of up to MVR 1 million under amendments to the Foreign Currency Act approved by Parliament’s Public Accounts Committee. The committee passed the amended bill by a majority vote on Wednesday after it was recommitted for […] The post Black market dollar sellers could face…
The Maldives and Russia have agreed to increase flight frequencies operated by Russian airlines, as the two countries seek to strengthen air connectivity and support further growth in tourist arrivals from one of the Maldives’ largest source markets. Tourism and Civil Aviation Minister Mohamed Ameen announced the development following talks with Russian State Secretary and […] The post Maldives…
