The Maldives Journalists Association (MJA) has expressed its strong disapproval of a decision by the Parliament’s Public Accounts Committee to prohibit the publication of black market foreign exchange rates.
In a joint press statement issued today with Transparency Maldives, the association declared its firm opposition to the committee’s decision to include a clause in the Foreign Exchange Act that criminalizes reporting on black market dollar rates.
The statement called on the Parliament floor to reject and send back the amendments passed during today’s Public Accounts Committee meeting.
The statement highlighted that if these amendments are enacted, they will severely restrict the ability of journalists and media organizations to inform the public about the true state of the country’s financial system and economy.
Furthermore, the organizations noted that such a move would significantly obstruct the media’s essential role in highlighting systemic financial issues and holding policymakers accountable for necessary reforms.
The statement argued that the proposed changes appear to target the factual reporting of economic and financial realities rather than addressing actual market manipulation.
"Reporting on events occurring within the economy and financial system cannot be considered an act of market manipulation. Furthermore, market manipulation is already prohibited under media codes of conduct and regulations," the statement added.
The MJA also expressed concern that the Public Accounts Committee reached this decision on a matter directly impacting journalists without any prior consultation with the association or the wider media community.
