Business

Stronger public compliance with wealth tax obligations helped collections outpace total annual receipts recorded for previous years.

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Reports of Muizzu's remarks on a public programme gave no details of how the dollar-driven caps on card purchases from foreign sites might change.

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Maldives Islamic Bank is extending banking services to Shaviyani Atoll's capital island.

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The bank calls it the most successful nine months in its history, despite pressure on the economy.

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Officials will look beyond paper transfers to see who really profits from, and controls, the business.

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Mohamed Alabbar describes the USD 20 billion waterfront project as the largest investment the Maldives has seen.

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The rating agency has lifted the sovereign rating one notch and moved the outlook to stable after the country settled its sukuk.

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The company will develop waqf properties and build and renovate mosques, with MVR 100 million in authorised capital.

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Tax collection is still growing, but at a slower pace, and non-tax income is down on last year.

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Arrivals are about 59,000 below the same point in 2025, and budget targets now look out of reach.

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