Dollar Crisis
9 articles
Latest
BusinessBusinesses allege BML is blocking USD transfers
Business owners are accusing the Bank of Maldives of blocking USD transfers to other banks amid a liquidity crisis. Despite having sufficient funds, traders report significant delays in processing payments and transfers via the MRTGS system. BML cited a backlog, reportedly prioritizing essential imports like food and medicine.
BusinessGovt urged to suspend dollar mandate and tax changes
Tourism advocacy group Destination Future is urging the government to suspend a planned 40% foreign currency conversion mandate and new tax changes for tour operators. The group warns these measures could cause irreparable damage to the industry, which is already struggling with declining occupancy and rising supply costs.
Business
BML card limits average less than $60 per customer
Business
BML faces backlash as foreign transaction limits exhaust at reset
Business
BML admits challenges in processing TTs due to USD shortage
Business
BML imposes restrictions with USD 16 million limit for e-commerce
Business
Foreign investors voice concerns over 40 percent dollar exchange
Business
MMA approval required for dollar salaries and bills
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