A digest of news and opinion from the Maldives.
Discussions have been held between relevant parties and stakeholders regarding the ongoing infrastructure development projects by Maldives Transport and Contracting Company (MTCC) in Gn. Fuvahmulah. According to MTCC yesterday, the company’s CEO Adam Azim, along with Ministers of State for National Planning, Housing and Infrastructure, Akram Kamaludeen and Shifaz Ali, met with members of Fenaka […]
Institute of Chartered Accountants of the Maldives (ICAM) has announced the issuance of its membership and licensing regulations yesterday. This follows a rigorous stakeholder consultation process conducted over a period of three months following the enactment of the Maldives Chartered Accountants Act. The membership regulation sets out the eligibility criteria for admission to membership of […]
Ministry of Finance has announced that Government offices have to submit procurement transactions below MVR 5 million in accordance with the amended public accounts policies. The announcement on the Finance Ministry’s website indicates that the procurement statement has to be submitted to the gazette within five working days. It also states that the Finance Ministry […]
Fushifaru Maldives will be celebrating an eco-friendly festive season from 22nd December 2020 to 1st January 2021. Over this ten-day period, festivities will be in full swing at Fushifaru, but with a green twist. Guests can look forward to contributing to save the environment by planting above and under the waterline – whether it be […]
Faris Hadad-Zervos, the World Bank’s new Country Director for Maldives, Nepal and Sri Lanka, completed his first visit to the Maldives last week. The purpose of this visit was to experience firsthand the country’s response to the COVID-19 pandemic and recovery efforts, as well as the progress and results of the World Bank-supported projects in […]
Bank of Maldives has started accepting applications for the EIB COVID Relief Loan launched under the COVID-relief support for Small to Medium Enterprises (SMEs) through funding from the European Investment Bank (EIB), facilitated by the Government of Maldives. Businesses can finance projects up to MVR 15.42 million at a lower interest rate of 6% with […]
Following the changes to regulations to strengthen the work in Maldives Monetary Authority (MMA), laws have been amended to widen the work scope of MMA’s Board of Directors. The amendment to the bill was proposed by the parliamentary representative of Keyodhoo constituency, Hussain Qasim and reviewed by the Public Accounts Committee. The bill was passed […]
Albion Store has been announced as the co-sponsor of Super Sports United (SUS) for the upcoming Dhiraagu Dhivehi Premier League 2020/2021. Albion Store is a leading hardware store and sanitary-ware supplier in the Maldives. It has been in operation since 1980, marketing and supplying various hardware products within the country. The announcement of Albion Store […]
Bill regarding the lease of uninhabited and inhabited islands for the development of resorts, hotels, marina and integrated tourism projects have been passed with 57 parliamentary votes. As per the new amended bill, the rent proposed for the development of resorts, hotels, marina and integrated tourism projects in uninhabited islands are as follows: As per […]