AGP Executive Report
Last update: 9 hours agoDigital Banking & Cash Limits: Bank of Maldives says a new monthly USD ATM withdrawal cap of $3,500 per customer starts 1 Oct 2026, while the daily $1,600 per card limit stays. The bank points to faster digital payments via BML Mobile and Internet Banking. Capital Markets Push: President Muizzu established National Exchange Limited, a wholly state-owned SOE to develop a government-backed secondary securities market, including trading facilities and post-trade services, with a focus on Islamic finance. Tourism Reporting Overhaul: MIRA launched the Maldives Guest Information System (MGIS), letting Green Tax-registered tourism businesses submit guest data in one place, with resorts/hotels/guesthouses over 50 beds starting from November and others from January. Hospitality Governance Scrutiny: The PCB dismissed two directors from Maldives Airports Company Limited (MACL), including Executive Director Mohamed Mihadh, without giving reasons. Environment Enforcement: ERA warned it will fine people who catch, keep or trade protected migratory birds during the northeast monsoon. Tourism Tax Backlash: UK travel trade group Abta says the extended 17% tourism GST on overseas travel firms’ margins from 1 Oct lacks clarity and consultation, urging a delay. Port Relocation Progress: MPL says the domestic operations area for the Malé Commercial Port move to Thilafushi is on track for early October, with quay wall and yard works underway. Shipping Cost Relief: Maersk cut its Emergency Contingency Surcharge for Maldives-origin cargo to Northern Europe and the Mediterranean, effective next Wednesday. Health Service Access: Health Minister Geela Ali said authorities are preparing a mobile blood donation service to make donating easier, especially for eligible donors who can’t reach blood banks.
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.