Author: Minivan News

Habib Bank to close accounts inactive for five years

Habib Bank Limited (HBL) has announced that all bank accounts that have been inactive for more than five years will be closed if the account holders do not tell the bank what to do with the accounts.

Vnews reported that the bank has already given 45 days to report, and that the current 13 day period is an extension of this.

The bank states that failure to contact the bank within this period will result in the account being shut down and cheque books and standing instruction being cancelled. According to HBL, the money in such accounts will be handed over to Maldives Monetary Authority (MMA) next month as stated in Article 35 of the Banking Act.

There are currently 63 accounts without any activity over the past five years.

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Indian external affairs minister postpones Maldives visit

The visit External Affair’s Minister Salman Khurshid to the Maldives has been postponed, with Indian media reporting that that the minister’s presence was required in parliament for the passage of the contentious Telangana bill.

The bill, which divides the state of Andhra Pradesh – creating Telangana, the country’s 29th state – was passed yesterday amidst fractious scenes in the Lok Sabha.

Khurshid’s visit to the Maldives was due to begin today (February 19), with the trip said to include that handing over of naval craft and a new tourism training facility to the Maldivian Government. These events have now been delayed.

Foreign Secretary Sujatha Singh is reported to have already travelled to the Maldives to participate in tomorrow’s SAARC foreign ministers’ meeting.

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Malé City Council to raise mortuary fees

Malé City Council has today passed a motion preventing the removal of dead bodies from Galolhu mortuary without full payment of the relevant fees, local media has reported.

Explaining that unpaid mortuary fees now MVR500,000, council member Hassan Afeef told Haveeru that fees for mortuary services would be raised in order to raise funds.

While previous costs were MVR1000 per day for everyone, the cost for foreigners will now be MVR1,500 and MVR750 for locals, reported the paper. Fees for foreigners on tourist visas will now be MVR3,084.

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Majority of dollar receipts spent on imports: MMA assistant governor

The majority of US dollar receipts to the Maldives are spent on importing goods to the country, Maldives Monetary Authority (MMA) Assistant Governor Dr Azeema Adam said yesterday at a ceremony to launch the central bank’s first Quarterly Business Survey.

Dr Adam – who was recently named by President Abdulla Yameen as his nominee for the vacant governor’s position – reportedly said that US$1.5 billion out of the approximately US$2 billion that enters the domestic economy was used to pay for imports.

As an island nation heavily dependent on imports, the MMA’s latest balance of payments projections estimate that the country’s current account deficit will widen to US$562.5 million in 2014, which is equal to 22 percent of GDP.

As a result, explained Adam yesterday, there is a shortage of dollars in circulation. The central bank’s chief economist recommended reducing the volume of imports and increasing productivity.

“We have to find ways to keep dollars [circulating] in the economy,” she said.

Securing foreign markets for Maldivian exports was also essential for alleviating the dollar shortage, she suggested.

As a large number of foreign workers reside in the country, Adam said, their remittances added to the dollar outflow.

The business survey meanwhile showed “an increase in the level of business activity” in the fourth quarter of 2013 (Q4-2013) compared to the third quarter (Q3-2013).

“Looking ahead, businesses expect a continuation of this improvement in business activity and volume of demand in Q1-2014 as well. With regard to the labour market, respondents in all sectors, except for the transport and communication sectors, indicated an increase in employment in Q4-2013 compared to Q3-2013,” the summary of the survey results stated.

All sectors surveyed also “anticipate an increase in hiring in Q1-2014 reflecting the expected increase in business activity in this quarter.”

“Pressure on business costs, which includes all labour related costs and other input prices, increased in Q4-2013 when compared to Q3-2013. Similarly, average prices charged by businesses also increased in Q4-2013, except for those businesses in the manufacturing and transport and communication sectors, which indicated no change,” the summary read.

“Going forward, the majority of respondents expect a further increase in their business costs compared to Q4-2013. Average selling prices are also expected to increase, except for transport and communication sectors, which anticipate a decrease in their selling prices.”

A delegation from the International Monetary Fund (IMF) expressed surprise at the “resilience” of the Maldivian economy in a meeting with MPs on the parliament’s public finance committee yesterday.

“Imports are on the shelf. If you go into a shop, you’ll find a wide range of imported goods there. You see people with motor scooters and cars and smartphones. You see people going on travel. All these are available, are done, even while the level of reserves at the MMA is quite low,” observed the IMF’s resident representative Dr Koshy Mathai.

The country’s current international reserves were US$345.7million in December, equating to just over two months worth of imports.

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Alhan seeks to invalidate candidacy of MDP Feydhoo ticket winner

MP Alhan Fahmy will seek Civil Court assistance to invalidate the candidacy of Mohamed Nihad – winner of the opposition Maldivian Democratic Party’s (MDP) primary for the Feydhoo constituency, local media has reported.

“I asked for the primary to be annulled because the list used on polling day and the [eligible] voter list is different, and the focal point at the ballot box in Feydhoo has said the polls are not fair. And none of the candidates have signed the results,” Alhan told Haveeru Daily today.

The incumbent MP contends that the election in the Feydhoo constituency was fraudulent and that any candidate who won the MDP ticket through fraud cannot be a valid one.

Nihad competed against eight candidates, winning 316 votes. Alhan came in second with 154 votes.

Alhan called for a fresh vote in the constituency, claiming the voter list used at polling stations was outdated and did not afford 67 party members the right to vote.

The election committee has confirmed that 67 members were indeed missing from the list at the ballot box, but decided against holding a re-vote, arguing the primary outcome would not change even if the 67 members were allowed to vote.

Alhan was stabbed in public on February 1 and is currently receiving treatment at Colombo’s Central Hospital. He has announced he will contest March’s People’s Majlis election as an independent.

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Government announces new housing program

The government has announced two housing schemes under a new “Gedhoruverikuruvun” housing program, application forms for which will be available from the ministry starting from March 2.

The Social Housing Scheme will provide housing for Male’ city citizens via flats. The second scheme will provide financial assistance through the Islamic Finance Facility for construction of houses in the islands.

After launching the scheme,  the Ministry of Housing and Infrastructure and the Housing Development Finance Corporation (HDFC) signed an MOU.

Minister of Housing Dr. Mohamed Muiz said construction of 1100 flats under the scheme will begin within two months. He did not give details on how the scheme is to be financed.

Muiz said the government will spend MVR 100 million on the finance scheme for the atolls.

Vice President Dr. Mohamed Jameel Ahmed said many believe that lack of housing is the root cause of all social issues and the pledge to provide housing is ‘one of the most important’ pledges of President Abdulla Yameen Abdul Gayoom’s government.

The government’s housing policy is sustainable and will minimize hardships, Jameel said.

Jameel criticized all former housing schemes saying they did not give priority to the poorest families and said that the current government will not discriminate on the basis of political ideology in providing housing.

The  ‘Gedhoruverikurun’ program was part of the ruling Progressive Party of Maldives (PPM) presidential manifesto, while launching the schemes was included in the government’s road-map for the first hundred days in power.

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President and cabinet members on scoresheet at opening of football pitch

A team including cabinet members and President Abdulla Yameen last night beat a team of Maldives National Defence Force (MNDF) officials in a match held to inaugurate the opening of the Villimalé futsal pitch.

Chief of Defense Force Major General Ahmed Shiyam, and Managing Director of the State Trading Organisation Adam Azim officially handed over the pitch to the Minister of Youth and Sports Mohamed Maleeh Jamaal before the game began.

Local media reported the final score as being 7-6 to the president’s team, with Home Minister Umar Naseer being named man of the match.

Naseer, President Yameen, and Tourism Minister were all on the scoresheet. The attorney general sustained a suspected sprained ankle in the second half, being replaced by the fisheries minister.

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EPA advises Majlis campaigners not to litter

The Environmental Protection Agency (EPA) has advised all political parties from littering the streets as campaigning for March’s Majlis elections continues.

Assistant Director of EPA Ahmed Murthala told Sun Online that several complaints had been received, adding that the EPA could not currently monitor violations due to staff shortages. The EPA is discussing ways to tackle breaches with the police, Sun was told.

The streets of the capital Malé were frequently strewn with campaign material during last year’s presidential election.

Last week, the city council revealed plans to introduce 200 dustbins as part of new regulations on waste management.

The waste management regulation came into force on February 5 and imposes an MVR100 (US$6.5) for littering and a fine between MVR10,000 (US$ 648.5) – MVR100,000 (US$6,485) if any authority in charge of public spaces fails to place public dustbins.

The regulations also mandate boat owners to place dustbins on sea vessels and imposes a fine between MVR100 million (US$6.5 million) and MVR500 million (US$32.4 million) on boats that dump waste into the ocean.

Murthala told Sun, however, that certain parts of the regulations – including the transportation of exposed waste on bicycles – will be postponed for two months.

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Fuvamulah woman sentenced for forcing a child into sexual activity

Fuvamulak Magistrate court has found Saeeda Hassan, 30 to be guilty of forcing a child into sexual activities and sentenced her to 25 years imprisonment, Haveeru has reported.

G.A Villingili Ahmed Nazeer, was earlier this month found guilty of sexually abusing the child involved in this case and another girl repeatedly on several days between May 2012 and February 2013. He was sentenced for 18 years imprisonment.

Saeeda, 39 was found to have encouraged the child to engage in sexual activity with Nazeer on several occasions.

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