New Exchange Regulations: Registration Portal Goes Live as MMA, Government Face Tourism Industry Pressure

The Maldives Monetary Authority (MMA) launched an FX Registration Portal for tourism establishments to register under new foreign exchange regulations. All entities registered with MIRA in the tourism sector must register by 31 October. Resorts must exchange US$500 per guest and guesthouses US$25 per guest through local banks. The MMA and the Muizzu administration face heavy criticism from the tourism industry and political opposition to reverse the policy.

The Maldives Monetary Authority (MMA) launched an FX Registration Portal for tourism establishments to register under new foreign exchange regulations. All entities registered with MIRA in the tourism sector must register by 31 October. Resorts must exchange US$500 per guest and guesthouses US$25 per guest through local banks. The MMA and the Muizzu administration face heavy criticism from the tourism industry and political opposition to reverse the policy.

The Maldives Monetary Authority (MMA) launched an FX Registration Portal for tourism establishments to register under new foreign exchange regulations. All entities registered with MIRA in the tourism sector must register by 31 October. Resorts must exchange US$500 per guest and guesthouses US$25 per guest through local banks. The MMA and the Muizzu administration face heavy criticism from the tourism industry and political opposition to reverse the policy.

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