Minister Says Dollar Distribution Through BML Up 80% Under President Muizzu

Economic Minister Mohamed Said stated in the People's Majlis on Wednesday that the amount of dollars distributed through the Bank of Maldives (BML) has increased by 80 percent under the administration of President Dr. Mohamed Muizzu compared to the previous government. Speaking during a no-confidence motion proceedings, Said detailed the government's economic and business achievements. He noted that the quantity of dollars sold under the current government has increased by 80 percent compared to the amount sold at an exchange rate of 15.42 during the presidency of former President Ibrahim Mohamed Solih. The minister also highlighted that the country has received USD 90.07 million, equivalent to MVR 1.39 billion, from international banking services so far. Said stated that thanks to the efforts of the Crisis Committee established by the President in connection with Iran-US tensions, the Maldives was protected from oil, gas, and card shortages. He mentioned that the Ministry of Economic regulates market prices by monitoring the prices of 164 items in the market once a day. The list of essential commodities has been expanded through direct Cabinet decisions, with three additional categories—salt, coal, and coconut husk charcoal—along with ten types of vegetables and ten types of fruits now classified as essential commodities, expanding the list from three to 26 items. The minister said this list will be expanded to 80 items by August 31, 2026. Regarding port services, the minister stated that the target is to bring Thilafushi International Port to full operation by November 2027. He noted that cargo clearance at Thilafushi began in October 2026, and that by December 2026, all ship-borne cargo clearance will shift entirely to Thilafushi, reducing congestion at Male’ and Hulhumalé quays. By November 2027, both international and domestic cargo clearance will be fully transferred to Thilafushi. Said also stated that 12 Business Centres across the country are still providing services, with no centre closed. He added that 192 RTI requests have been responded to over the past two and a half years, and that he has met with the media 184 times.