A digest of news and opinion from the Maldives.
Maldives Monetary Authority (MMA) statistics reveal that Maldives’ gross international reserve increased by 56 per cent between November 2020 and December 2020. The Maldives had accumulated USD 629.9 million in gross international reserves by the end of November 2020. The latest economic update publicized by MMA shows that by the end of December 2020, the […]
The level of Maldivian fish exports saw tremendous growth in 2020 compared to that of the previous year. According to statistics released by the Maldives Monetary Authority (MMA), fish exports increased by 20 per cent in 2020 compared to 2019. While 2019 saw the export of only 56421 metric tons of fish, the figure was […]
Maldives Monetary Authority (MMA) has assured the public that forged MVR 500 currency notes are not being circulated in the nation. The central bank revealed that it had investigated claims of a fake MVR 500 note which became viral on social media, and concluded that the note was in fact legitimate. MMA spokesperson Mohamed Nasih […]
Maldives Monetary Authority (MMA) has revealed that Maldives racked up a deficit of MVR 15 billion in 2020. Expenditure stood at MVR 30.6 billion, which is twice the amount of income which was MVR 14 billion. Ministry of Finance had initially projected that, in the worst-case scenario, the nation’s economy will contract to a negative […]
Maldives Monetary Authority (MMA) has announced that it is seeking a technical consultant to assist in the development of a national payment system. The instant payments infrastructure, once implemented, will serve the payment needs of all entities in the Maldives, consistent with global best practices that promote innovation and healthy competition. MMA is seeking individuals […]
Maldives Monetary Authority (MMA) has amended the law which sets out the minimum amount of cash that must be declared to Maldives Customs. If one is carrying more than USD 10,000 in physical money in or out of the country, it must now be declared to customs. This amendment was made in order to bring […]
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 […]
Hour of Code which takes place globally each year during the Computer Science Education Week, from December 7th to 13th will be taking place across the Maldives again. This year, Hour of Code at Hour of Code Maldives is set to be bigger, reaching all corners of the country. The event will be held on […]
The dollar revenue of the month of October for Maldives Inland Revenue Authority (MIRA) has decreased considerably compared to the previous month. Statistics published by MIRA on last Monday reveal that the authority earned USD 4.68 million. This is a reduction of USD 2.06 million in comparison of the month of September where the authority […]