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NewsEuropean tour operators are expressing concerns: Nasheed
Former President Mohamed Nasheed warned that a new mandate requiring resorts to convert 40% of foreign earnings into local currency could lead to bankruptcy. European investors and tour operators fear the policy leaves insufficient funds for dividends and debt. Nasheed urged the government to reconsider to avoid damaging investor confidence.
BusinessForeign investors voice concerns over 40 percent dollar exchange
Foreign investors and local resort owners in the Maldives have voiced strong opposition to a new rule requiring them to exchange 40% of foreign currency revenue. Critics argue the mandate is unconstitutional and threatens business sustainability. MATI members are now urging the association to advocate against the government's policy.
