BML partnered with MOC for its Sports Scholarship Program. -- Photo: BML
Bank of Maldives (BML) has partnered with Maldives Olympic Committee (MOC) to offer its Sports Scholarship Program for the second year.
According to BML, the fully funded scholarship offers athletes the chance to train at globally renowned high-performance training centers.
MOC will oversee the selection of athletes and nominations will be open to member associations of the MOC.
In the program’s first batch, seven athletes from four different sports completed their training successfully.
Dhiraagu Gamers Guild is offering a chance to win an iPhone 18 Pro Max in Burgundy to users who subscribe and verify their profiles by December 31, 2026. This initiative aims to support the Maldivian gaming community by providing exclusive rewards and competitive tournament opportunities for local talent.
Mohamed Afeef has been dismissed as the Managing Director of Fenaka Corporation, the third person to hold the role under the current administration. His removal comes amid government efforts to dissolve the utility company and reduce the state-owned workforce by 33 percent. No official reason for the dismissal has been provided.
India has agreed to roll over a 30 billion rupee currency swap for the Maldives following a request from the Maldivian government. This extension aims to stabilize the nation's low foreign exchange reserves and prevent economic strain. The decision follows a recent $50 million debt payment made by the Maldives to India in September.
The Maldives Monetary Authority has restricted the $1,000 medical currency allowance to six specific countries to ensure funds are used for their intended purpose. This change follows a surge in foreign currency demand for private travel. The $2,000 allowance for state-funded Aasandha patients remains unchanged.
The Maldives Inland Revenue Authority reported a 15% drop in dollar revenue for September, falling to $126.8 million. While tourism taxes rose, the decline was driven by a sharp decrease in lease extension fees and airport taxes. Despite this monthly dip, total dollar revenue for the year remains higher than 2023 levels at $1.2 billion.
Economic Minister Mohamed Saeed announced that Bank of Maldives has resolved previous obstacles to online transactions and e-commerce caused by the dollar shortage. The bank is also working to restore full capacity for telegraphic transfers and foreign currency issuance as the government manages unprecedented debt repayment obligations.
Bank of Maldives (BML) has been named one of the World’s Best-Performing Banks by Forbes, ranking 39th in the Tier 6 category for smaller institutions. The selection was based on a global analysis of profitability, growth, and asset quality. This recognition follows BML's record-breaking financial performance and projected historic success.
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