President Dr Mohamed Muizzu has reiterated his commitment to addressing the difficulties faced by students under the Government loan scheme in obtaining US dollars at the official bank rate. He made these remarks during the third episode of the Rayyithunnaa Eku podcast, hosted by the President’s Office.
The President noted that during his overseas visits, he has consistently met with Maldivian students studying abroad. A common concern raised by those benefitting from the Government’s student loan scheme is the ongoing challenge of acquiring US dollars at the bank rate. To alleviate these difficulties, the President stated that he has instructed the Minister of Finance to develop a practical solution. He added that work is already underway in consultation with the Governor of the Maldives Monetary Authority (MMA).
He assured that students enrolled in overseas education under the Government loan scheme would be provided with access to US dollars at the bank rate. However, he emphasised that any measures introduced would be carefully designed to avoid adverse impacts on the local market. The President also highlighted that the allocated funds must be utilised in the country where the student is undertaking their studies.
The Government is placing particular emphasis on supporting students pursuing higher education abroad through both loan schemes and scholarship programmes. Currently, more than 1,600 Maldivian students are studying overseas under the government’s loan scheme.
The President reiterated that one of his top priorities is to listen to the people, govern with their concerns in mind, remain close to the public, and make decisions in consultation with them.
