President Dr Mohamed Muizzu has assured the nation that efforts to resolve the dollar shortage will continue as promised.
During a meeting with residents of K. Huraa, as part of his tour of Ari Atoll and Male' Atoll, he confirmed that whilst the dollar shortage remains an inherited economic challenge, steps are being taken to address it.
The President mentioned that a key element of the economic strategy requires that a portion of incoming foreign currency be exchanged through Maldivian banks, a measure established to benefit citizens. He further stated that the central bank has drafted and submitted the relevant legislation to Parliament, noting that the bill remains unchanged from its original form.
The President expressed optimism that Parliament would pass the bill before its current session ends, emphasising that its passage would boost economic prosperity and enhance national wealth.
The legislation, submitted to Parliament today, aims to establish a comprehensive legal framework governing foreign currency transactions within the Maldives, regulate international currency movements, standardise domestic currency operations and implement clear protocols for all foreign currency dealings.
