The Maldivian government has announced the sale of over MVR 4 billion in T-bills as it seeks to manage its cashflow. According to an announcement by the Finance Ministry last week, the government is selling four T-bills worth total MVR 4.27 billion. The T-bills up for subscription are: MVR 1.97 billion T-bill which matures in […]
Read MoreParliament, on Monday, has approved MVR 114.4 million as next year’s budget for the Auditor General’s Office. The budget was passed as decided by the Public Accounts Committee without any further changes. The Auditor General’s Office’s budget for the coming year needs to be passed ahead of the state budget for that year. At Monday’s […]
Read MoreMaldives President Dr. Mohamed Muizzu on Sunday has made the decision to introduce India’s “Unified Payment Interface” (UPI) in the Maldives on the recommendation of the cabinet. This move is expected to bring significant benefits to the country’s economy, including increased financial inclusion, improved efficiency in financial transactions, and enhanced digital infrastructure, the President’s Office […]
Read MoreThe Maldivian government has announced the sale of over MVR 4 billion in T-bills as it seeks to manage its cashflow. According to an announcement by the Finance Ministry last week, the government is selling four T-bills worth total MVR 4.27 billion. The T-bills up for subscription are: MVR 1.97 billion T-bill which matures in […]
Read MorePresident Dr. Mohamed Muizzu, at the recommendation of his cabinet, has announced the formulation of a masterplan, in accordance with regional best practices, on the application of artificial intelligence for economic advantage. The decision was reached after deliberations during a cabinet meeting held on Wednesday. As per the President’s Office, the masterplan consists of risk […]
Read MoreMaldives President Dr. Mohamed Muizzu, on Monday, has decided to ban the import and use of vape in the Maldives. He announced the decision via a post on X. The President, in the post, said he has instructed to ban the import of vaping devices and parts of such devices starting from November 15th and instructed […]
Read MoreThe government has decided to change the Maldivian Ambassador to India. The post is currently held by Ibrahim Shaheeb. The appointment of a new ambassador is slated on the agenda of Monday’s parliamentary sitting as the parliament is set to reconvene for a new session after recess. The government has yet to disclose whether Shaheeb […]
Read MoreMaldives government has submitted a bill to the parliament seeking to double Green Tax, levied on tourists, and increase Tourism Goods and Service Tax (TGST) and airport taxes. Crucial three bills have been submitted to the Parliament by the government as the Parliament is set to reconvene after recess on Monday. West Maafannu MP Mohamed […]
Read MoreMaldives state has earned a revenue of MVR 2.30 billion in September 2024, which is a 93.1 percent increment compared to the same month last year. According to the Maldives Inland Revenue Authority (MIRA), which published the revenue report, this significant increment is mainly due to the significant increment in GGST, TGST and Tourism Land […]
Read MoreMaldives is now supporting payments through cards running on RuPay, India’s card payment network. The decision was announced this week after talks between Indian Prime Minister Narendra Modi and Maldivian President Mohamed Muizzu. RuPay is the Indian alternative to Visa and MasterCard. Data by market research firm 1Lattice last year showed that RuPay dominated the debit card […]
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