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MATI Slams MMA for Ignoring Concerns in New Foreign Exchange Regulations

MATI criticised the Maldives Monetary Authority for gazetting amended Foreign Exchange Regulations without addressing concerns raised by the tourism industry during consultations. The new rules require fixed per-tourist foreign currency exchange amounts, registration with the MMA within 30 days, and deposit of foreign currency earnings into local banks within three months.

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What are the key figures?

Sources 1carried it 1 of 19 news outlets we monitor
Figures4as written, with their sentences

One outlet so far Only Maldives Republic has reported this among the sources we monitor. A gap in what we monitor, not proof that others did not report it.

What happened

in order; days are read from the reports' words and dates
  1. Tue 1 Oct
    The amended Foreign Exchange Regulations were gazetted. on Tuesday only Maldives Republic The amended regulations, which were gazetted on Tuesday, require tourism establishments to exchange foreign currency at fixed amounts per tourist

    Word for word from the report in Maldives Republic. Open the report

  2. Wed 2 Oct
    MATI issued a statement criticising the MMA over the amendments. on Wednesday only Maldives Republic newest In a statement issued on Wednesday, MATI expressed disappointment, stating that despite consultations with stakeholders, the MMA had not responded to any of the issues the association had highlighted regarding the proposed changes.

    Word for word from the report in Maldives Republic. Open the report

Who said what

the reports' own quoted words, each once
  • During the meeting with MMA, MATI raised several concerns regarding the new foreign exchange regulations. However, these were not addressed before the amendments were gazetted

    MATI Maldives Republic Open the report (Maldives Republic)

How the reporting differs

one source so far
Maldives RepublicNews outlet

MATI Slams MMA for Ignoring Concerns in New Foreign Exchange Regulations

US$500 Minimum foreign currency exchange per tourist for resorts, safari boats and city hotels
First Open at outlet(opens the report at Maldives Republic)

Nothing to compare yet. If another monitored source reports it, its headline appears beside this one.

Figures in these reports

as written, with the sentence they come from
  • US$500 Minimum foreign currency exchange per tourist for resorts, safari boats and city hotels Maldives Republic the fixed exchange amount, which mandates that resorts, safari boats, and city hotels must exchange at least US$500 per tourist

    Word for word from the report in Maldives Republic. Open the report

  • US$25 Minimum foreign currency exchange per tourist for smaller hotels and guesthouses Maldives Republic smaller hotels and guesthouses must exchange a minimum of US$25 per tourist

    Word for word from the report in Maldives Republic. Open the report

  • 30 days Registration deadline with the MMA for tourism businesses Maldives Republic Tourism businesses are now required to register with the MMA within 30 days and report their foreign exchange earnings.

    Word for word from the report in Maldives Republic. Open the report

  • 37-year-old Age of the foreign exchange rule being ended Maldives Republic marking the end of a 37-year-old foreign exchange rule

    Word for word from the report in Maldives Republic. Open the report

Other events named

no clear day, as worded
  • A meeting with stakeholders, including tourism sector representatives, was held. last week Maldives Republic Sources indicated that a meeting with stakeholders, including representatives from the tourism sector, was held last week.

    Word for word from the report in Maldives Republic. Open the report

Subjects

sectors and approved topics, alphabetical
Finance & bankingTourism & hospitality

Named in these reports

alphabetical
Ibrahim InaanMaldives Association of Tourism IndustryMaldives Monetary Authority (MMA)