IASL, MFMC to Set Up ‘International’ Airline
Island Aviation Services Limited (IASL) and Maldives Fund Management Corporation (MFMC) have inked a partnership agreement to establish a new...
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),...
New Zealand to Implement Digital Services Tax on Multinational Companies
New Zealand has announced its intention to introduce legislation for a digital services tax targeting large multinational corporations starting in...
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,...
India Considers Slashing EV Import Taxes to Attract Tesla
India is reportedly crafting a new electric vehicle (EV) policy that could significantly reduce import taxes for automakers willing to...
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...
MMA Launches ‘Favara’ Instant Payment System
The Maldives’ central bank, Maldives Monetary Authority (MMA), has finally launched its Instant Payment System, ‘Favara,’ to facilitate fast, convenient,...
Mastercard, Binance to End Crypto Card Programmes in Several Countries
In a recent development, global payment giant Mastercard (MA.N) and cryptocurrency exchange Binance have announced the discontinuation of their cryptocurrency...
Starlink Granted Internet Service Provider Licence in Maldives
The Maldives government has licenced Starlink, SpaceX’s high-speed internet service provider (ISP), allowing the company to offer its services within...
Tourist Card Payments Strain USD Supply
Businesses turn to the black market for their regular dollar influx as the exchange rate yo-yos between MVR18.10 and MVR18.30...
