President Mohamed Muizzu today ratified seven bills passed during the recently concluded session of the People’s Majlis.
The President signed the bills into law during a ceremony at the President’s Office, attended by several cabinet ministers.
Among the ratified legislation is an amendment mandating resorts to exchange 40 percent of their foreign currency earnings through local banks. Additionally, the President approved a provision that prohibits public discourse regarding the sale of dollars at rates exceeding the official exchange rate.
Furthermore, Muizzu ratified a new law that grants the President sole authority over the leasing of uninhabited islands.
The President also gave his assent to the second amendment to the Fisheries Act, two tax-related bills, and a bill concerning land transport.
However, Muizzu did not ratify the legislative amendment that would allow the central government to reclaim lands currently under the jurisdiction of local councils.
