President Dr. Mohamed Muizzu has said government companies will not have to seek dollars from the black market starting September this year.
In his address to the opening session of the People's Majlis, Muizzu said the mandatory dollar exchange rules will begin to show a positive impact soon.
"So from September 2025, government-owned companies will be able to receive dollars at the official rate without going to the parallel market," he announced.
But Muizzu had earlier said this would be achieved from July 2025. He did not state a reason for the delay in his address delivered today.
He further said the proportion of dollars allocated to businesses and Maldivians travelling overseas will be increased from 2026.
"The USD 500 per Maldivian departing from Velana International Airport (VIA) will be doubled to USD 1,000 in the first quarter of 2026 and the credit card limits will be increased to USD 1,400 in the second quarter of 2026," he stated.
MPs from the opposition Maldivian Democratic Party (MDP), carrying placards with various slogans, began protesting as soon as Muizzu started his second presidential address since assuming office in November 2023.
Speaker Abdul Raheem Abdulla called out the names of several MDP MPs and asked them to leave the chamber.
But MPs continued to protest and Abdul Raheem indicated to Muizzu to stop his address. He also announced that the session was adjourned and would resume when the MPs leave the chamber.
Security guards entered the chamber and forced some MPs to leave. Among them were MDP parliamentary group leader Ibrahim Nazil and Vaikaradhoo MP Hussain Ziyad.
The session resumed after the MPs were dragged out of the chamber.
