The Auditor General's Office released its 2025 compliance audit report on the Maldives International Arbitration Centre, finding that the centre spent about MVR 3 million over three years without facilitating any arbitration proceedings. The report found its financial operations complied with the State Finance Act and People's Majlis-approved purposes.
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The Maldives International Arbitration Centre (MIAC) has spent 3 million Rufiyaa over the past three years, despite failing to facilitate any actual arbitration proceedings during this period.
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The Maldives International Arbitration Centre (MIAC) was initially allocated a budget of MVR 3,667,255 for the past year.
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However, following budgetary adjustments, the final figure was revised to MVR 3,391,157.
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By the end of 2025, the center's total expenditure amounted to MVR 3,330,473.
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Earlier reports gave MVR 52.6 billion 29 Oct, 16:28 The Standard
Consequently, MVR 276,098 remained from the original allocation, while MVR 60,685 was left over from the final revised budget.
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Consequently, MVR 276,098 remained from the original allocation, while MVR 60,685 was left over from the final revised budget.
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An analysis of MIAC's expenditure reveals that 98 percent of its total budget, amounting to MVR 3,247,953, was utilized for recurrent expenses.
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An analysis of MIAC's expenditure reveals that 98 percent of its total budget, amounting to MVR 3,247,953, was utilized for recurrent expenses.
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Within this category, personnel costs accounted for MVR 2,382,916, representing 76 percent of the total recurrent expenditure.
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Within this category, personnel costs accounted for MVR 2,382,916, representing 76 percent of the total recurrent expenditure.
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Meanwhile, capital expenditure comprised only 2 percent of the overall spending, totaling MVR 82,520.
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Earlier reports gave MVR 9.9 billion 2 Nov, 16:34 Raajje (English)MVR 9.9 billion 29 Oct, 16:34 Maldives Voice
Meanwhile, capital expenditure comprised only 2 percent of the overall spending, totaling MVR 82,520.
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The Auditor General’s Office has released the 2025 compliance audit report for the Maldives International Arbitration Centre, an institution established during President Ibrahim Mohamed Solih’s administration.
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