AGP Executive Report
Last update: 6 hours agoForex Rules & Tourism Risk: Former President Mohamed Nasheed says Parliament’s new requirement for resorts to convert 40% of USD earnings into rufiyaa could “bankrupt” resorts and trigger job losses, while the MMA has clarified that businesses are not legally barred from paying salaries in USD. Currency Policy Debate: Opposition and industry voices continue to challenge the 40% dollar-conversion push, with MATI warning of wider tourism fallout. Fisheries Prices: MIFCO raised its skipjack tuna purchase price by MVR 1 to MVR 21/kg, effective immediately, aiming to align with private traders and speed payments to fishermen. Tourism Tax Expansion: Maldives Parliament approved extending Tourism Goods and Services Tax obligations to overseas booking platforms and tour operators, requiring offshore sellers to register with MIRA. Trade Finance Controls: All banks signed an agreement with Maldives Customs to verify TT documents and curb counterfeit transfers, coordinated with the MMA’s FIU. Port Procurement: MPL invited bids for facilities for the Thilafushi Port Development Project, with applications closing 10 September. Banking Access: Maldives Islamic Bank rolled out 24-hour ATMs in Baa Atoll islands Kendhoo, Goidhoo and Thulhaadhoo, and opened a full branch in Eydhafushi. Youth Entrepreneurship: Bank of Maldives and SME Digital disbursed USD 19.5m to over 3,000 young entrepreneurs in the first phase of a collateral-free financing programme.
Note: AI summary from news headlines; neutral sources weighted more to help reduce bias in the result. Feedback is welcome. Please let us know if you have any comments or suggestions about the AGP Executive Report.
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