Tourism sector reels under new currency rules: Investors, operators voice alarming concerns
The Maldives’ tourism-dependent economy is facing growing unrest among investors, resort operators, and industry stakeholders following the government’s enforcement of a new foreign exchange regulation. Marketed as a step toward economic stabilization, the regulation mandates foreign currency earners—primarily resorts and tourism businesses—to convert a significant portion of their earnings through the local banking system. But […]
Maldives resorts face financial strain from strict currency exchange rules
The Maldives’ tourism industry which has still not fully recovered from the COVID epidemic is facing a significant hurdle due to a recent regulatory requirement imposed by the Maldives Monetary Authority (MMA) that mandates the exchange of USD 500 per tourist. This rigid policy has sparked widespread concern among resort owners, who argue that it […]
Maldives Monetary Authority unveils new banknotes
The Maldives Monetary Authority (MMA) unveiled its new banknote series at a special function held in Dharubaaruge on 1 November.
Industry Expert: Riding out the yuan storm
China’s sudden currency devaluation has rattled stock and financial markets worldwide, but the Asian travel sector appears to weather the economic turbulence well – at least for the time being.
Maldives Monetary Authority announces new polymer banknote family
The Maldives Monetary Authority (MMA) has announced that it will be launching a new family of seven banknotes on De La Rue’s Safeguard polymer substrate.
