AGP Executive Report
Last update: 15 minutes agoIllegal Forex Crackdown: Maldives Police launched a hotline to report unlicensed foreign currency dealers, warning that black-market rates and promotions are offences; police also froze accounts of Naid Investments and are searching its office. Arrests Over Currency Trading: Six foreign nationals were detained in a joint police-immigration operation tied to an unauthorised forex network, with transactions reportedly reaching MVR 54.4m and USD 1.63m over three years. Tourism Tax Compliance: MIRA ordered TGST-registered tourism businesses to report foreign parties selling Maldives tourism products, saying offshore sellers must register and pay TGST under the amended GST Act. Foreign Exchange Policy Politics: The MDP approved a resolution calling for direct action against President Muizzu unless the government reverses the 40% foreign currency conversion requirement, warning it could strain resorts. Infrastructure Update: AFCONS says the Thilamalé Bridge is designed for about 120 years with major maintenance expected only once every 20 years. Public Safety: MP Ahmed Siyam urged stronger child-safety measures after two separate Hulhumalé tragedies involving a child accident and a fall from a STELCO tower. Business Appointments: Abdulla Faiz was appointed Chairman of MIFCO, while Maldives Islamic Bank extended the MIB Guesthouse Awards deadline to Sept 14. Travel & Trade: Visit Maldives is promoting the destination at ITB India 2026 in Mumbai, running Sept 1–3.
Note: AI summary from news headlines; neutral sources weighted more to help reduce bias in the result. Feedback is welcome. Please let us know if you have any comments or suggestions about the AGP Executive Report.
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