Mohamed Mamdhooh
5 articles
Latest
NewsPay hikes approved for Speaker, Ministers and Councillors
The Maldives' Public Accounts Committee approved pay raises for the Speaker and increased car allowances for government ministers. Supported by the ruling PNC, the move boosts the Speaker’s monthly pay to MVR 95,000. Opposition members voted against the proposal, citing concerns over the national budget and current economic conditions.
NewsResorts mandated to exchange 40 percent of USD earnings
The Maldives Parliament passed amendments requiring resorts to convert 40% of USD earnings into local currency within 28 days, starting in October. Despite industry warnings that the mandate is unfeasible, the law increases the previous 20% requirement. The move aims to bolster foreign exchange reserves but faces strong tourism sector opposition.
