Economy
In the operations launched against illegally selling dollars on the black market, investigations conducted in connection with 65 cases resulted in the detention of six Bangladeshis at Velana International Airport and the seizure of foreign currency worth 3.8 million Rufiyaa. Customs statistics have revealed that although 232 people were fined 723.5 million Rufiyaa for illegally importing vapes, only 850,000 Rufiyaa has been paid to the state so far. The Islamic Economics Conference and Training Camp 2026, jointly organized by the Islamic University of Maldives and the International Islamic University Malaysia, officially commenced today. In order to further expand Maldives tourism and strengthen air transport connectivity, important discussions have been carried out between Maldives Marketing and PR Corporation and the national airline, Maldivian.
On 9 September 2026, the police and relevant state agencies launched a serious investigation into cases involving illegal dollar sales transactions operating in the black market. This operation is a special investigation launched to identify and stop parties that are trading foreign currency at high rates without authorization outside the Maldivian financial system and making unlawful profits. In this regard, relevant institutions are currently working swiftly together to identify the places and individuals conducting such transactions, and to obtain the information and evidence needed to take legal action. Furthermore, as such illegal financial transactions have adverse impacts on the country's economy, relevant authorities have given special priority to resolving this issue.
Fines for importing vapes reached 723 million, but only a small amount was collected, reports reveal
Although fines imposed in connection with the illegal importation of vapes into the Maldives have reached 723 million Rufiyaa, it was revealed on September 9, 2026, that the state has received only a very small amount of it. This information indicates that despite enforcing heavy fines on offenders and banning the importation of vapes, there remain significant challenges in recovering these funds. Moreover, with such a massive amount accumulated in fines, the low payment collection rate has highlighted this revelation as a clear sign that the fine enforcement system needs to be strengthened.
An important international conference on Islamic Economics commenced in the Maldives on Wednesday, 9 September 2026. The main objective of this conference is to discuss and exchange views at an international level to further strengthen and develop the Islamic economic system and the Islamic finance sector. International experts and scholars in the field of Islamic economics are participating in this meeting, where research papers are scheduled to be presented on ways the Islamic financial system can be utilized for sustainable development. Hosting such an international conference in the Maldives is a significant step forward in the efforts to make the Maldives a major hub for Islamic finance.
Official discussions were held between two companies on 9 September 2026 to further expand and advance the Maldives' tourism industry. The meeting primarily focused on areas where both parties could collaborate to increase tourist arrivals to the Maldives, as well as new avenues to strengthen business relations. Additionally, views were exchanged during these discussions regarding conducting joint promotional activities and making the best use of opportunities available in the tourism sector. It is anticipated that these discussions will bring further advancements to the Maldivian tourism market.