AGP Executive Report

Municipal Governance: Maldives’ Minister of Municipality Abdullah Al Attiyah met the Maldives ambassador to Qatar, Adam Shareef Umar, to discuss boosting cooperation in areas of mutual interest. Language & Culture: Former President Maumoon Abdul Gayoom launched Dr. Hassan Hameed’s English-Dhivehi dictionary at Maldives National University, calling it a major contribution to Dhivehi language and literature. Tourism & Hospitality: Sun Siyam Media signed on as official media partner for Food and Hospitality Asia Maldives (FHAM) and Culinary Challenge, with a global culinary challenge featuring 120+ resorts and 600+ participants. Money & Regulation: President Muizzu ratified a Payment Systems Act amendment to create a national payment switch under MMA oversight, while Parliament passed GST changes to make foreign tour operators and offshore booking platforms pay GST under the destination principle. Environment & Waste: Muizzu also ratified a Waste Management Act amendment ending double taxation on plastic bags and setting clearer waste management responsibilities and fines. Sports Administration: ACC elections in Bangkok saw Pakistan-backed candidates win all three board seats, with Maldives represented among the winning group. Infrastructure: India-backed Greater Malé Connectivity Project advanced as the final Thilamalé bridge segment linking Malé and Vilimalé was installed.

Greater Male Connectivity Project: India-funded GMCP hit a key milestone as the final bridge segment linking Malé to Villingili was officially set in place, with officials calling it a major step toward seamless connectivity across the wider network. Tourism & Hospitality: Visit Maldives backed Food & Hospitality Asia Maldives (FHAM) 2026, set for 7–9 September in Hulhumalé, featuring a Global Culinary Challenge with 700+ chefs and buyers from 120+ resorts and hotels. Tax & Trade Policy: Parliament approved GST for offshore booking platforms and foreign tour operators, and also doubled withholding tax on foreign contractors from 5% to 10% for payments made by Maldivian businesses. Public Safety & Enforcement: Police promoted 331 officers across ranks, while MMA revoked Express Money Exchange’s licence for breaches of money-changing rules. Sports: The 14th South Asian Games were postponed again, now scheduled for April 3–11, 2027 in Pakistan, with Maldives among participating countries. Crime & Courts: Prosecution said protected witness testimony in the Yameen Rasheed murder case cannot be withdrawn, as the case heads toward further hearing.

Thinadhoo Anniversary & Decentralisation Clash: Former President Mohamed Nasheed told a Thinadhoo rally that the island’s growth came from the democratic system, warning President Muizzu that a land-takeover bill could “plump a coup” by shifting land and lagoons from local councils to the Cabinet. Finance & Currency: The Maldives Monetary Authority says a USD shortage could be tackled by enforcing Rufiyaa-only transactions domestically, if fiscal and monetary fundamentals are kept tight. Money-Changing Crackdown: MMA revoked Express Money Exchange’s licence after regulatory breaches. Tourism Demand: China leads arrivals with 250,437 visitors so far this year, while VIA remains the main entry point. Infrastructure & Services: MWSC plans to start producing deep-sea water from 500m below sea level by mid-next year, with pipelines to Male’ and Hulhumalé. Islam Milestone: Work is set to begin on the Hulhumalé Grand Mosque foundation for the 900th anniversary of embracing Islam. Trade & Logistics: MACL opened a tender to lease cargo office spaces at VIA’s cargo terminal. Regional Diplomacy: Muizzu congratulated Bangladesh’s newly elected President Mirza Fakhrul, hoping to deepen ties.

Housing & appointments: Fahi Dhiriulhun Corporation (FDC) has appointed Hassan Faihath Gudhurathullah as its Deputy Managing Director, bringing experience from his time as president of the Gaafu Dhaalu Atoll Council; FDC is also driving major housing work in Hulhumalé. Money & enforcement: The Maldives Monetary Authority (MMA) revoked Express Money Exchange’s foreign exchange licence for regulatory breaches, warning others to comply as authorities tighten action on illegal USD trading. Islam & heritage: The government is preparing to lay the foundation for the Hulhumalé Grand Mosque tied to the Maldives’ 900th anniversary of embracing Islam, with a Qur’an museum planned in the complex. Health & rehab: The National Drug Agency is exploring AI tools with China’s Yunnan University to expand mental health assessments and drug rehabilitation support beyond the capital. Regional diplomacy: President Muizzu congratulated Bangladesh’s newly elected President Mirza Fakhrul Islam Alamgir, reaffirming deep ties and cooperation. Economy & trade: Maldives-Türkiye’s Preferential Trade Agreement took effect on August 1, with benefits expected for the creative sector and other industries. Courts: A retrial hearing in the 2017 murder case of blogger Yameen Rasheed is set for tomorrow.

Bangladesh–Maldives Ties: President Muizzu congratulated newly elected Bangladesh President Mirza Fakhrul Islam Alamgir, calling the vote a major democratic milestone and pledging deeper cooperation. Cargo & Connectivity: Velana International Airport handled 18,457 tonnes of cargo in Q2, with transshipment and freighter flights rising as the airport pushes capacity growth. Trade & Creative Economy: The Maldives–Türkiye Preferential Trade Agreement took effect on Aug 1, with duty concessions expected to boost local artists and designers. Dollar Crunch Debate: MMA Governor Ahmed Munawar said a Rufiyaa-only approach for domestic transactions could ease USD shortages if fiscal and monetary fundamentals are kept tight. Education Upgrade: Work on a new seven-storey CHSE building in Malé is set to start late this year. Justice Update: A retrial hearing in the 2017 murder of blogger Yameen Rasheed is scheduled for tomorrow. Public Finance: Government spending on salaries, allowances and pensions hit MVR 9.38B as of Aug 13. Weather Alert: Met Office issued a yellow alert for heavy rain and thunderstorms across parts of the south. Maritime Search: MNDF says search continues for three missing men after a supply vessel sank in Huvadhoo Sea. SIDS Forum in Malé: Maldives will host SIDS business and investment forums Aug 23–25 with 200+ participants. Currency Enforcement: MMA revoked a money-changer licence over illegal FX dealings as authorities crack down on black-market USD rates.

Weather Watch: Maldives Met Office issued a yellow alert for heavy rain and thunderstorms from 15:00–18:00 today across Laamu Atoll to Gaafu Dhaalu Atoll, with a white alert for Gaafu Alifu to Gaafu Dhaalu until 17:00; seas may turn rough in squalls with 3–5 ft waves. Public Finance: Government spending on salaries, allowances and pensions hit MVR 9.38 billion as of Aug 13, up 11.2% year-on-year, as recurrent and capital spending also rose. Search & Rescue: Two weeks after a supply vessel sank in Huvadhoo Sea, MNDF says searches for three missing men—including rescue personnel—are still ongoing. Dollar Crackdown: MMA revoked Express Money Exchange’s licence over illegal FX transactions, as Parliament backs penalties for advertising or trading black-market USD rates. Housing Push: President Muizzu says more housing allocations will be made in the Greater Male’ Region in his final year. SIDS Forums: Maldives will host the SIDS Global Business Network Forum and Island Investment Forum from Aug 23–25 with 200+ participants. Health & Waste: Addu will get the Maldives’ first cytotoxic waste management facility, and STO introduced GE HealthCare’s portable Vscan ultrasound to expand diagnostics beyond clinics.

Housing & Local Politics: President Muizzu says more housing will be allocated in the Greater Malé Region in his final year, as residents raise long-running flat and land issues directly through “Rayyithunge Adu.” Public Finance & Enforcement: The Maldives Monetary Authority revoked Express Money Exchange’s licence after illegal foreign exchange violations, while Parliament’s committee approved higher penalties for black-market dollar advertising and trading—sparking renewed debate over enforcement. Health & Services: STO introduced GE HealthCare’s portable Vscan ultrasound system to expand diagnostic access beyond clinic rooms, especially for smaller islands. Fisheries Support: The Ministry launched the “Aaruveri Matching Grant Scheme” with MVR 278 million to back fish meal, renewable energy, mariculture, processing and value-add projects. Waste Management: Addu will get the Maldives’ first cytotoxic medical waste management facility, targeting safe containment and disposal of chemotherapy-related hazardous waste. Trade & Regulation: MMA opened public consultation on two draft rules—financial consumer protection and simplified/electronic customer due diligence. Business & Investment: Maldives will host the SIDS Global Business Network Forum 2026 and the Island Investment Forum from Aug 23–25 in Malé. Transport & Environment: MTCC is seeking public feedback on redeveloping the West Park fish market platform, feeding concerns into the EIA. Sports: Maldives-linked headlines include BML’s ICIA 2026 partnership and a major regional Quran competition win by South Asian contestants including Maldives participants.

Foreign Exchange Crackdown: Parliament’s Public Accounts Committee approved amendments to the Foreign Currency Act that would make advertising or promoting black-market USD rates a punishable offence, with fines up to MVR 1 million—sparking pushback from journalists and opposition MPs who warn it could curb reporting on the dollar crisis. Political Tension Over Land: MDP leader Mohamed Nasheed accused the government of intimidating civil servants into signing a petition supporting a bill that would let the cabinet take over land, lagoons and reefs currently under local councils. Tobacco Control: Health Minister Geela Ali said tobacco decisions are guided by research and expert consultation, pointing to a generational ban and free cessation services, alongside a new five-year campaign. Fisheries Support: The Aaruveri Matching Grant scheme was launched under the World Bank-funded TRANSFORM project, with MVR 278 million for non-reimbursable grants (40% of approved costs) across energy efficiency, sustainable production, mariculture and SME development. Airport Numbers: Velana International Airport handled about 1.62 million passengers in Q2 2026, led by 1.04 million international travellers and strong seaplane traffic. Pension Leadership: Yazmeed Mohamed was appointed CEO of the Pension Administration Office for a five-year term starting 23 August. Religious & Regional Links: Maldives and Saudi Arabia discussed hosting an international Quran competition in the Maldives, while Maldives’ Foreign Ministry denied reports of a consulate in Addu City.

Foreign Exchange Crackdown: Parliament’s Public Accounts Committee approved amendments that could criminalise advertising and reporting black-market USD rates, with fines up to MVR 500,000 (and higher penalties for businesses), drawing sharp pushback from opposition MDP leaders and the Maldives Journalists Association, which warn it could chill media freedom and won’t fix the dollar shortage. Dollar Crisis Politics: Opposition figures say government “U-turns” on foreign exchange rules are worsening market confidence, while supporters argue tougher controls are needed to curb the black market. Humanitarian Day: President Muizzu used World Humanitarian Day to condemn attacks and blockades against aid workers, calling for an immediate and permanent end to the Gaza war and stronger protection under international law. Tourism Numbers: Velana International Airport handled about 1.62 million passengers in Q2, led by 1.04 million international movements, as seaplane and domestic traffic also rose. Tourism Leadership: Visit Maldives CEO Ibrahim Shiuree was elected to PATA’s Executive Board, boosting Maldives representation at the Asia-Pacific tourism body. Health & Rehab Tech: The National Drug Agency signed an MoU with Yunnan University to bring AI into drug rehabilitation and mental health support. Infrastructure & Awards: The Engineers Award 2026 nomination deadline was extended to August 27. Cancer Care Storage: Maldives’ first dedicated cancer treatment waste storage facility is planned for Addu under a new agreement.

SOE Watch: Male’ Water and Sewerage Company (MWSC) says profits fell 33% in 2025 after a big jump in 2024, with revenue down to MVR 1.37bn and profit dropping to MVR 145m. Public Sector Staffing: Maldives Transport and Contracting Company (MTCC) reports its workforce has surged by more than 2,000 since the current administration took office, rising to 6,145 employees by end-March. Tourism & Transport: Cabinet has ordered a review to reduce domestic airfares for tourists on Maldivian, but a former IAS deputy warns lower fares won’t help unless flight frequency and connectivity improve. Local Governance: Hinnavaru council will charge a MVR 2,000 fee from 1 September for people deregistering from the island’s residential registry. Parliament & Taxes: MPs approved higher withholding tax on payments to non-resident construction contractors, lifting it from 5% to 10%, and passed Foreign Currency Act amendments raising the USD 15m to USD 25m threshold for foreign-currency deposit rules. Health Alerts: Health Protection Agency reports measles cases rising to 226 after 10 new infections in Greater Malé; authorities continue vaccinations and urge prompt care and isolation. Drugs Intercepted: Maldives Customs seized 3.2kg of cannabis sent via post. Diplomacy: Foreign Minister denies claims about an Indian consulate in Addu and says no decision has been made on consulates outside Malé. Tourism Growth: Russia has agreed to increase flights to the Maldives, with more Russian airlines expected to start operations.

Tourism & Transport Costs: Cabinet decided to direct IASL to reduce Maldivian airfares, a move aimed at easing high travel costs even as the airline already runs at a loss and visitor numbers remain pressured. Economy & Policy: Parliament passed Foreign Currency Act amendments raising the USD 15m to USD 25m threshold for firms to deposit foreign currency earnings, and also approved a withholding tax hike on non-resident construction contractors from 5% to 10%. Tax on Tourism Platforms: Parliament backed GST on services by foreign tour operators and booking platforms, with the Finance Ministry saying it consulted the IMF to limit impact on Maldivians. Public Health: Measles cases in Greater Malé rose to 226 after 10 new infections; HPA urged vaccination, masking in facilities, and isolation for suspected cases. Environment & Conservation: Climate Minister Ali Shareef visited Hanifaru Bay to review conservation work in the UNESCO biosphere reserve. Governance & Integrity: ACC warned sports bodies face high corruption risks due to weak financial reporting and urged public disclosure and stronger audit rules. Crime & Enforcement: Customs intercepted 3.2kg of cannabis via post, while another drug parcel was seized earlier this week. Business & Services: WAMCO launched an official app for waste collection services and payments; Maldives launched its first Consumer Sentiment Index to track household expectations. Jobs & State Sector: Government set up a MVR 600m fund to help workers leaving loss-making state firms start businesses. Sports: Dhiraagu Male’ Open 2026 race kits open for collection ahead of the Aug 21-22 event.

Digital Finance & Banking: President Dr Mohamed Muizzu launched Maldives Premier Bank’s digital platforms, unveiling the MPB Plus mobile app and internet banking at the bank’s inaugural gala, with the MMA governor also pledging to raise Maldivians’ share in senior banking roles to over 80% in five years. Tourism Tax Reform: The Finance Ministry says it sought IMF advice on taxing foreign tour operators and booking platforms under the “Destination Principle,” aiming to align with international practice while reducing impact on Maldivians. Trade & Diplomacy: Maldives’ ambassador to the UAE met Sharjah Chamber officials to explore investment and trade links, including fish processing, date trade, and tourism. Public Accountability: iCOM launched a Strategic Action Plan through 2031 to expand access to government information and strengthen the RTI system, citing persistent non-response issues. Parliament & Payments: MPs passed amendments to expand URA’s board to seven members and approved a National Payment Switch under the MMA to improve interoperability across banks and wallets. Health & Community: HPA set up an MVR 3 million annual tobacco-control fund for community and civil society projects. Local Life: A school canteen in GA. Vilingili was temporarily shut after rats were seen on food display. Sports & Events: Race kit collection begins for the Dhiraagu Malé Open 2026, with the competition set for Aug 21-22 at Rasfannu.

Banking & Jobs: President Muizzu inaugurated the Maldives Premier Bank, launching its mobile and internet platforms, while MMA governor Ahmed Munwar said the banking sector aims to push Maldivians into over 80% of senior management roles within five years. Drugs via Post: Maldives Customs seized 3,252g of cannabis found in a scanned postal package; police have yet to confirm arrests. Tourism Enforcement: The Tourism Ministry moved against tourism leaseholders who failed to pay rent and fines, urging them to settle outstanding dues. Parliament & Finance Modernisation: MPs passed a National Payment Switch bill to route eligible transactions through a single MMA-designated switch, and also approved expanding the URA board to seven members. Waste & Environment: Parliament passed a Waste Management Act amendment removing a plastic bag fee on bulk packs over 50 bags, alongside broader waste-policy provisions. Maritime Security: A cargo ship off Somalia was boarded by at least eight pirates; the crew is safe and EUNAVFOR ATALANTA is investigating. Health Funding: HPA launched a MVR 3 million annual tobacco-control fund for community and civil society projects. Mariculture Expansion: Fisheries designated 10 new mariculture zones across several atolls to grow the sector. Tech & Privacy: MTCC filed a police complaint after a Male’ Taxi Line app leak allegedly traced to an employee accessing the backend. Tax Push: Parliament greenlit doubling withholding tax on payments to foreign contractors from 5% to 10% to create a “level playing field” for local firms.

Foreign Affairs: Maldives State Minister for Foreign Affairs Sultan bin Saad Al Muraikhi met Qatar’s Maldives Ambassador Adam Shareef Umar to review cooperation and shared interests. Tax Policy: Parliament greenlit a bill to double withholding tax on payments to foreign contractors from 5% to 10%, aiming to give Maldivian firms a more level playing field; the government is also pushing GST on inbound tourism services from foreign tour operators and offshore booking platforms. Parliament Disruption: A power outage forced suspension of a Monday Parliament sitting while MPs debated the Pearl Residency Program resolution. MNDF Search Update: After a US aircraft sweep found no new leads in the Friend4 sinking search, MNDF says chances of finding three missing men in the Huvadhoo Sea remain “slim,” with operations ongoing. Healthcare: StatePharma met India’s Serum Institute to strengthen vaccine and essential medicine supply; StatePharma MD Dr Shah links medicine shortages to long-standing gaps in import, storage and stock management, with digital systems underway. Humanitarian Finance: Maldivian Red Crescent unveiled plans for The Crescent Tower, a 14-storey Hulhumalé project to fund humanitarian programmes. Tourism & Aviation: Visit Maldives and MACL signed on as aviation partner for World Travel Awards 2026. Culture & Community: Universal Foundation awarded four 2026 medical scholarships to address specialist shortages. Local Life: Male’ City Council disclosed spending of over MVR 1.15m on two town hall meetings.

Energy & Finance: The Maldives secured a USD 50 million ADB loan to ease fuel costs and protect electricity, water, food and medical transport, as official foreign currency reserves keep sliding to USD 638.03m by end-July. Housing: Rasmalé reclamation is now 55% complete, with 556.54 hectares reclaimed so far, as the project faces renewed scrutiny over delays. Judiciary: Adam Shameem was appointed Chief Judicial Administrator, taking over after Amjad Mustafa’s resignation. Infrastructure: MTCC has been contracted to build a dinghy jetty and coastal protection in Villimalé, with works scheduled over the next five to six months. Tourism & Diplomacy: Tourism minister Mohamed Ameen leads a high-level mission to Russia to boost tourism cooperation and air connectivity. Public Safety: MNDF reported 13 emergency incidents last week, while a Male’ apartment fire left four residents temporarily sheltered. Health & Trade: StatePharma held talks with India’s Serum Institute to strengthen vaccine and medicine supply. Tech & Travel: Maldivian launched Journey+ optional services, and FasterCapital backed Roam Dhuniye to speed eSIM connectivity for travelers. Sports: Registration is open for PS Relay 2026 in Hulhumalé Central Park on Sept 12.

Monetary Policy & Reserves: Maldives Monetary Authority data shows official reserves fell to USD 638.03m by end-July, down from USD 1.33bn in March, as big external debt repayments hit reserves. Parliament Oversight: The Public Accounts Committee met with MMA officials behind closed doors over monetary measures, including plans to raise minimum reserve requirements from 10.5% to 11% in September and up to 13% by year-end. Public Safety: MNDF reported 13 emergency incidents last week, with 10 in Malé, as the search continues for three missing men after a supply boat capsized. Maritime Search: A US Navy P-8A Poseidon was spotted flying low over the same search zone for the missing crew and rescue personnel. Tourism Tax Push: MPs advanced amendments to levy GST on services from foreign booking platforms and offshore tour operators, with government estimates pointing to over MVR 1.6bn annually. Digital & Innovation: Visit Maldives and CEGStake will host the inaugural Digital Ownership Summit in December, focused on tokenised real-world assets for tourism and investment. Diplomacy: Jameela Ali Khalid was nominated as Maldives’ new high commissioner to the UK. Disaster Response: A fire in a Malé apartment left four residents temporarily sheltered; no serious injuries reported.