Economy

Minister of Economic Development and Trade Mohamed Saeed revealed on 14 September 2026 that the price of the US dollar has dropped in the Maldivian market. Minister Saeed highlighted this while discussing the positive changes occurring in the foreign exchange market as part of the government's measures to improve the Maldives' financial and economic situation. In this regard, he noted that the results of efforts made to stabilize the dollar rate and ease its availability in the market are becoming evident. Furthermore, the minister stated that the decline in foreign currency rates will bring significant relief to businesses and the general public.

Following the reset of the Bank of Maldives (BML) e-commerce limits, significant congestion was experienced across banking services on 14 September 2026. As the designated limits for online transactions renewed, a large volume of customers simultaneously began making e-commerce transactions, overloading the system and causing delays in accessing some services. BML is working to resolve the difficulties faced by customers due to this congestion and restore system operations to normalcy.

Minister of Homeland Security and Technology Ali Ihusaan has stated that relevant authorities will investigate cases where money was sent via Telegraphic Transfer (TT) to import goods into the Maldives, but the corresponding goods were not brought into the country. As such actions adversely impact the country's financial system and the foreign exchange market, the government has decided to investigate these cases and take legal action. The Minister specifically noted that special attention will be paid to preventing the misuse of business transactions to unlawfully transfer money abroad. Furthermore, efforts are underway to take robust measures in collaboration with the Maldives Monetary Authority (MMA) and other relevant institutions to resolve these issues.

According to information released on September 14, 2026, revenue statistics obtained from bunkering services provided in the Maldives were highlighted. It was noted on that day that substantial revenue was generated from fuel sales and other maritime services rendered under this service. Furthermore, reports on that day stated that the income generated from bunkering services constitutes a significant success that has brought further growth to the country's economy.

The national airline, Maldivian, has decided and made arrangements to officially commence scheduled flights to Dhaalu Airport located in Dh. Kudahuvadhoo. With the commencement of these flights, opportunities for air travel convenience will be further expanded for the residents of Dhaalu Atoll and tourists traveling to resorts in the region. The airline noted that these flights—initiated as part of efforts to expand Maldivian's network and connect various parts of the country by air—will bring substantial relief to travel between Kudahuvadhoo and Malé.

A number of foreigners illegally trading dollars on the black market were arrested on 14 September 2026 in a special operation conducted by relevant authorities. This operation is a decisive measure taken to curb the illegal exchange of foreign currency outside the Maldives' financial system and to stop those carrying out dollar transactions on the black market. While the police and relevant authorities are investigating the cases of the arrested foreigners, the government is taking measures with special attention to stop such unlawful acts.

During the Arabian Travel Market (ATM) 2026 fair, which commenced on 14 September 2026 at the Dubai World Trade Centre, discussions have begun with a special emphasis on expanding halal tourism and introducing halal certification in the Maldivian tourism industry. At this fair, attended by 165 delegates from 74 Maldivian companies alongside the Visit Maldives Corporation (VMC) and the Ministry of Tourism, the importance of providing halal food tailored for Muslim tourists and services in accordance with Islamic principles was highlighted. In business meetings taking place on the sidelines of the fair, extensive meetings are being held with relevant foreign parties to establish halal tourism standards and obtain certification, targeting the Muslim market in the Middle East and worldwide.

On 14 September 2026, important discussions were held regarding the establishment of an airline under the name 'Air Addu'. The main purpose of these discussions was to decide on practical steps to bring an airline into existence to further expand the transport system to Addu City and elevate regional air transport services to a new level. In addition, the relevant parties exchanged views extensively on the technical and administrative matters required to establish this airline. These discussions were an important initiative carried out with the goal of bringing significant progress to Addu's economy and tourism sector.