MIB event. -- Photo: Adhadhu
Maldives Islamic Bank (MIB) has announced a major event with fireworks in Hulhumale tomorrow.
MIB said new products will be announced at the event in Central Park. The event is scheduled to begin at 8:30 pm on Friday.
MIB also said an event for children will be held on Friday from 4:30 pm to 6:00 pm in the Central Park.
The bank is expanding and digitizing its services. MIB accounts can now be opened online without visiting a bank branch.
Villa College has been selected as the official host institution in the Maldives for the King’s Commonwealth Fellowship Programme. This fully funded undergraduate initiative aims to build climate resilience and leadership in Small Island Developing States. Applications are now open for eleven fellowships covering tuition, travel, and stipends.
The Federal Reserve's 0.25% interest rate hike is expected to worsen the dollar shortage in the Maldives by driving capital back to the U.S. This shift increases global borrowing costs and debt servicing expenses for the import-dependent nation, placing significant strain on its budget and requiring more effective fiscal management.
MIRA has named former FAM President Bassam Adeel Jaleel and several high-profile entities on its list of tax defaulters. Each of the 33 individuals and companies listed owes over MVR 1 million in unpaid taxes. Other notable names include former government official Hassan Ismail and comedian Yoosuf Rafeeu.
Star Medical will host a free pre-pregnancy awareness session for couples on September 24 at 8:45 pm. Led by experienced nurses, the event offers guidance on healthy conception and a Q&A segment. Interested couples can register by contacting the clinic directly.
Bank of Maldives has notified businesses that dollar support for transfers is now strictly subject to availability. Importers face automatic cancellations if accounts lack full invoice amounts, as the bank struggles with a severe foreign exchange shortage. Business owners report receiving zero support and no prior notice of these changes.
Bank of Maldives expects dollar transfer services to return to normal next week following recent delays caused by a surge in demand. The bank implemented measures to manage unsustainable outflows from Rufiyaa accounts, noting that the issue is a temporary supply imbalance and not a reflection of its overall financial health.
Bank of Maldives denied claims that it provided $50 million to the government for debt repayment to the State Bank of India. The bank clarified that no customer deposits or internal resources were used for the payment. BML maintained its financial stability despite ongoing dollar liquidity challenges and warned against spreading misinformation.
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