Targeted Subsidies to Replace Indirect Subsidies in July 2024: Finance Ministry
The Ministry of Finance has revealed that the current indirect subsidies will be replaced by targeted subsidies starting July 2024....
Maldives’ Credit Rating at B-,Outlook Negative, Says Fitch Ratings
Fitch Ratings has affirmed the Maldives’ Long-Term Foreign-Currency Issuer Default Rating (IDR) at ‘B-‘ with a ‘negative outlook.’ In Fitch’s...
State Revenue for August Stands at MVR 1.6 Billion: MIRA
Maldives Inland Revenue Authority (MIRA) has revealed that the state had collected MVR 1.6 billion in state revenue in August...
SDFC Looks to Establish Islamic SME Bank
The SME Development Finance Corporation (SDFC) is working to set up an Islamic bank for small and medium enterprises (SMEs),...
Over MVR10 Million Worth Transactions in 48 Hours: MMA
The Maldives Monetary Authority (MMA)’s instant payment system (IPS) ‘Favara’ saw 3,678 transactions, valued at a total of MVR10.6 million,...
VP Champions More Financial Sector Development
The country is in vital need of banks that can provide easier housing finance options and should embrace a more...
India Rejects Tax Waivers for Tesla
Amid speculation about Tesla’s plans to introduce its cheaper Model 3 in the Indian market at an estimated cost of...
Three Banks Join Central Bank’s Instant Payment System
In a significant development for the Maldivian financial sector, three local banks have signed an agreement with the Maldives Monetary...
Commonwealth to Assist Small States to Gain from Multilateral Trade
The 2023 Commonwealth Trade Ministers Meeting concluded at Marlborough House in London on Tuesday, with the shared commitment to promote...
Nominal GDP Set to Top MVR 100 Billion for First Time in History
Finance Minister Ibrahim Ameer announced on Friday that the country’s nominal gross domestic product (GDP) is expected to exceed MVR...
