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Media reports emerging on Sunday from the island nation said the Bank of Maldives (BML) suspended foreign transactions for existing debit cards, as well as new debit and credit cards linked to MVR accounts. BML also lowered the monthly standard and gold credit card limit to $100, but it reversed the decision within hours.

Financial coup bid by Maldives opposition, alleges Muizzu

August 27, 2024, 10:09 PM - 4 min read

Media reports emerging on Sunday from the island nation said the Bank of Maldives (BML) suspended foreign transactions for existing debit cards, as well as new debit and credit cards linked to MVR accounts. BML also lowered the monthly standard and gold credit card limit to $100, but it reversed the decision within hours.

(R) EAM Jaishankar with Maldives Foreign Minister Moosa Zameer in Male.

UPI coming to Maldives, Jaishankar confirms in new MoU

August 10, 2024, 12:54 PM - 2 min read

The Memorandum of Understanding was signed on Friday during Jaishankar's three-day official visit to the Maldives.

Maldives Foreign Minister Moosa Zameer warmly receives India's External Affairs Minister S. Jaishankar during his official visit to Male,

Jaishankar's Maldives visit: A bid to reset relations

August 10, 2024, 11:16 AM - 2 min read

The tension in India-Maldives relations escalated after derogatory remarks were made by three Maldivian ministers and some parliamentarians about Prime Minister Narendra Modi.

President Mohamed Muizzu engages in a conversation with Chinese delegates.

China commits to Maldives' infrastructure, energy projects

July 23, 2024, 06:19 PM - 2 min read

The announcement came following a productive meeting between Maldivian Foreign Minister Moosa Zameer and Luo Zhaohui, chairman of the China International Development Cooperation Agency (CIDCA).

Maldives environment minister Fathima Shamnaz Ali Saleem (L), Maldives President Mohamed Muizzu (R).

Maldives minister arrested for hex on Prez Muizzu

June 28, 2024, 02:00 PM - 2 min read

Environment minister Shamnaz, along with her ex-husband Adam Rameez, who served as a minister at the President’s Office, and two other individuals, faces charges of using witchcraft purportedly to gain favour with President Muizzu.

Prime Minister Narendra Modi has extended heartfelt greetings to Oman Sultan Haitham bin Tarik and the people of Oman on the joyous occasion of Eid al-Adha.

Modi greets Oman, Maldives leaders on Eid al-Adha

June 17, 2024, 12:06 PM - 2 min read

In a press release from the Indian Embassy in Oman, PM Modi emphasized the significance of Eid al-Adha as a pivotal component of India's multicultural heritage, celebrated by millions of Indian citizens of the Islamic faith. He also conveyed his best wishes for the Sultan's good health and well-being.

The World Bank has issued a stark warning to the Maldives, highlighting that the island nation has been spending "beyond its means" for decades, leading to high debt distress risk and significant financing challenges.

World Bank warns Maldives of high debt distress

June 12, 2024, 04:19 PM - 2 min read

This announcement follows the Maldives Ministry of Finance's recent report that public and publicly guaranteed debt has surged to nearly 110 per cent of the nation’s GDP. The Maldives, heavily reliant on tourism, was severely impacted by the COVID-19 pandemic and has only started to recover in 2023.