Foreign Exchange Act
19 articles
Latest
News"Govt policies will cause tourism downturn and halt business"
Former Minister Fayyaz Ismail warns that new tax and forex regulations will trigger a major tourism downturn and economic collapse. He claims these "policy attacks" violate international standards and threaten thousands of jobs. Fayyaz urged the government to halt these abrupt changes and consult with industry stakeholders.
BusinessBusinesses face challenges in securing dollar support from BML
Bank of Maldives has notified businesses that dollar support for transfers is now strictly subject to availability. Importers face automatic cancellations if accounts lack full invoice amounts, as the bank struggles with a severe foreign exchange shortage. Business owners report receiving zero support and no prior notice of these changes.
News
Adhadhu removes USD tracker due to restrictive law
News
"Not a burden for resorts to exchange 40 percent of earnings"
News
Yameen urges resorts to oppose 40 percent USD conversion rule
News
Calls for Muizzu’s resignation as dollar crisis worsens
Business
MMA mops up MVR 3 billion to reduce surplus liquidity
News
Resorts mandated to exchange 40 percent of USD earnings
Business
Efforts to curb use of fraudulent TTs amid USD crisis
News
Enforcement alone cannot fix USD crisis, warns economic expert
News
Exchanging 40 percent of earnings is not feasible: MATI
News
"USD issue cannot be resolved by silencing the public"
News
Former official warns USD could hit MVR 30
News
Heavy fines on money exchangers selling USD above official rate
News
"Changes to Foreign Exchange Act could lead to economic collapse"
News
MJA condemns proposed ban on reporting black market USD rates
News
Govt discussed jail sentence for black market rate reporting
News
Majlis moves to ban publication of black market USD rates
Business