Ameer Blames Government’s Reliance on Projected Revenues for Maldives’ Financial Struggles
Former Finance Minister Ibrahim Ameer has attributed the Maldives’ current financial difficulties to an over-reliance on expected revenues, criticising the...
BML Reverses Foreign Transaction Limits Following Regulatory Pressure
The Bank of Maldives (BML) has reversed its recent decision to suspend foreign transaction allowances on debit and credit cards...
Fayyaz Expresses Concerns Over Economic Fallout From BML’s Restriction on Dollar Transactions
Opposition leader and former Economic Minister Fayyaz Ismail has sharply criticised the Bank of Maldives’ recent decision to restrict foreign...
Analysts Warn of Economic Turmoil Following BML’s Halt on Dollar Transactions
Analysts are warning of severe economic repercussions following the Bank of Maldives’ (BML) decision to halt foreign transactions on cards...
Bank of Maldives Curtails Foreign Transaction Limits on Cards
The Bank of Maldives has announced immediate changes to its card limits for foreign transactions, citing an increase in foreign...
BML to End Dollar Transactions on MVR-Linked Cards Amid Currency Shortage
The board of directors of the Bank of Maldives (BML) has decided to stop processing dollar transactions on cards linked...
Maldives May Need to Utilise SDF Funds to Cover Reserves Shortfall: Experts
The Sovereign Development Fund (SDF) will have to be used in the event the state budget is unable to meet...
Government Seeks MMA Approval to Establish Development Bank of Maldives
Submissions for the licensing of a Development Bank have been filed with the Maldives Monetary Authority (MMA), Minister of Economic...
Black Market Dollar Soars Above MVR 18.20 Amid Supply Shortages
The black-market dollar rate has surged above MVR 18.20 per dollar, driven by a sharp rise in demand and dwindling...
Fitch Downgrades Maldives’ Rating From B- to CCC+ Citing Worsening External Financing
Fitch Ratings has downgraded the Maldives’ Long-Term Foreign-Currency Issuer Default Rating (IDR) to ‘CCC+’ from ‘B-‘. An IDR is an...
