MIB to fund MVR 500,000 project for Guesthouse Champion island

Oct 6, 2026, 1:38 PM
The awards will be given in conjunction with the Guesthouse Symposium in 2026. -- Photo: Mirash Nashim/ Adhadhu

The awards will be given in conjunction with the Guesthouse Symposium in 2026. -- Photo: Mirash Nashim/ Adhadhu

The Maldives Islamic Bank (MIB) has announced that the winner of the "Guesthouse Champion" title at the upcoming Guesthouse Symposium will be awarded a community project valued at MVR 500,000.

The Guesthouse Symposium and Awards ceremony, an initiative by MIB, is scheduled to take place in Male' on October 15. The winning island will be officially announced during the event.

The bank reported strong support for the award nominations by the application deadline. The winning island will have the opportunity to propose a project that directly benefits both the local community and visiting tourists.

With funding of up to MVR 500,000 available under this initiative, the bank expressed its hope that the project will enhance the convenience and well-being of residents and visitors alike.

Comments

Read More

Latest News

Fenaka offers voluntary redundancy packages for STELCO merger

Fenaka Corporation is offering voluntary redundancy packages with three months' salary as it prepares to merge with STELCO. This move is part of a broader government initiative to restructure state-owned enterprises and reduce the workforce by 33 percent to cut public expenditure. Interested staff must submit their resignations by tomorrow.

List of essential commodities expanded from 26 to 80

The Maldives has expanded its list of essential commodities from 26 to 80 items to ensure lower market prices nationwide. The new list includes more fruits, vegetables, and supplies for infants and the elderly. These goods will be distributed by the State Trading Organisation to reach citizens across all atolls and cities.

MATATO welcomes reversing destination principle tax

MATATO has welcomed the Maldivian government's decision to reverse a tax on foreign tour operator commissions. The move follows industry pushback and threats from international partners to stop selling the destination. The government now plans to amend the Tax Act to ensure the Maldives remains competitive in the global tourism market.

Subsidy spending hits MVR 4.1 billion

The Maldives' subsidy spending has reached MVR 4.1 billion, exceeding the annual budget by 43.5%. Rising global oil prices have driven costs for fuel and electricity far beyond initial projections. Despite international advice to shift toward targeted support, the government aims to cut costs by improving electricity generation efficiency.

"Public shareholding will transform the tourism industry"

Tourism pioneer Champa Afeef endorsed the government's plan to develop 10 resorts with public shareholding, calling it a transformative shift for the industry. The project aims to give citizens a direct stake in tourism benefits. Despite skepticism from critics regarding financing, President Muizzu maintains the project is moving forward.

Visit Maldives 2027 national campaign unveiled

The official branding, logo, and theme song for the "Visit Maldives 2027" national campaign have been unveiled. Under the slogan "Islands Are Us," the initiative aims to unite stakeholders and the public to promote the nation’s unique identity. Additionally, the expanded 2025 Maldives Tourism Awards were launched to honor industry excellence.

Maldivess first biodiversity magazine unveiled

The Maldives has launched its first biodiversity magazine, a solo venture by writer Yasir Salih aimed at a global audience. Published biannually in English, it explores marine life, fisheries, and culture through scientific data and local folklore. The publication will be distributed internationally to promote the nation's natural wealth.

Newsletter

Get the latest news delivered straight to your inbox