Cabinet will impose a limit on the amount of money that can be remitted by expatriate workers in the Maldives, in an attempt to increase the dollars circulating in the economy.
The government said the decision, reported in the government gazette and published in Haveeru, was intended to reduce the amount of money send overseas by those working in the country illegally. Previous estimates have put the number of illegal workers at up to half the total expatriate population of the Maldives.
Those that exceed the limit, and organisations providing the transfer facility, would face a fine.
Most banks already place a limit on the amount of rufiya that can be transacted into dollars and transferred out of the country.
Haveeru meanwhile reported that a blackmarket for dollars had resurfaced with prices reaching Rf16.5, as banks were still unable to meet demand for dollars. The highest amount permitted under the government’s band is Rf15.42 to the dollar.
“It’s difficult to buy dollars, even if you’re willing to pay Rf17 for it. Banks don’t issue dollars either,” a local businessman told Haveeru.
(0)Dislikes
(0)Related Posts
Progressive Coalition to hold public feast to celebrate election results
Riot at Maafushi prison leaves many injured, claim prisoners’ relatives
Comment: Anwar al-Awlaki’s killing is unjustified
Deadlock loosens, as landmark Supreme Court ruling establishes separation of powers
Police conclude investigation of MP Alhan Fahmy’s stabbing
Minivan News team wins Earth Hour Quiz
Well , one more idiotic decision by our government , expatriate workers come here as to do our work and send their hard earned money back home to feed their families. Instead of limiting the money transfer, we should start doing our work ourselves decrease dependence on unskilled workers. Frankly if these workers leave our economy which is already limping will collapse completely. And as matter of fact we Maldivians we are moving more money out of country to live lavishly in Malaysia ,singapore,india ,lanka and other places . How many Maldivians who work abroad send money back home? Well none, we earn money by various business in maldives and siphon money abroad to bank accounts there and live lavishly. Let's wake up to the reality , instead of blaming these workers who do our dirty job and make our lives easier, let's be honest in dealing with our economic problem , wake up , other wise this country of ours is going to go down. Let sanity prevail
Its a shame we maldivians are so lazy. we cant do our own work. we bring all these expatriates and misuse them. and now when we are in crisis, they have to pay like this. what is wrong with all of us?
I am expatriate, who come in this country to have some earning for my family.I am completely agree with AHMED & IBRAHIM its not justifying to put the blame on others and solve the problems. We people who comes from other countries are coming for support our families and with our income we needs to transfer approx 90% for our family in our native countries so that our commitments and purpose to stay and live in Maldives can be fulfill.
We don't even getting any financial supports from employers during this financial crisis and now looking this attitude of government bodies,its purely time for me and all other expatriates to just pack our bags and left Maldives.
WHAT FOOLISHNESS IS THIS. MINISTRY OF EDUCATION IS SENDING ITS DELEGATES TO OTHER COUNTRIES LIKE INDIA TO RECRUIT TEACHERS BY OFFERING THE PRESCRIBED SALARY. THEN NOW SAYING MANY EXPATRIATES ARE SENDING MONEY. WHY CANT U STOP THESE RECRUITMENT. WHO TOLD U TO BRING THEM HERE. DO U KNOW HOW MUCH MONEY THIS PEOPLE ARE EARNING BY THE STUPID RECRUITMENT EVERY YEAR. WHY A SMALL COUNTRY NEED THOUSANDS OF TEACHERS RECRUITED EVERY YEAR?. THINK WELL ABOUT THIS
THE PEOPLE WHO EARN MONEY MEAN THE DELEGATES AND MIDDLE MAN.