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BusinessMMA approval required for dollar salaries and bills
The Maldives Monetary Authority now requires businesses to obtain prior approval for all foreign currency expenditures, including salaries and bills. Companies must submit annual budget projections 30 days before year-end to receive authorization. The MMA holds the power to withhold approval for these transactions with written justification.
NewsResort workers shouldn't pay for policy failures: TEAM
The Tourism Employees Association of Maldives (TEAM) opposes government plans to mandate resort salary payments in local currency amid a dollar shortage. The group argues that workers should not suffer for policy failures that would reduce their real income. They demand guaranteed access to dollars at official rates before any such transition.