Category: News in Brief

New Rf5 notes enter circulation

Maldives Monetary Authority (MMA) today released new Rf5 notes into circulation, as per discussions held over the past several months.

The new notes are said to differ from existing ones, which will be kept in circulation.

According to MMA, the security thread on the original note has been replaced with a new thread, bearing a design in place of the original “MMA AMM”, Haveeru reports.

The new notes are dated March 7, 2011, and bear the signature of MMA Governor Fazeel Najeeb.

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Amana Takaful IPO fully subscribed

Amana Takaful ended its Initial Public Offering (IPO) with a full subscription and 800,000 shares floated to the public in parcels of 25 shares each, at Rf20 (US$1.3) per share.

The issued shares have been alloted and a list has been sent to the Maldives Securities Depository (MSD) to be deposited in the respective MSD accounts.

“Our intention was to help change the way the Maldivian stock market operates as this was the first time that Maldivians, expatriates and foreigners were able to purchase securities in a Maldivian listed company,” said Hareez Sulaiman, the General Manager of Amana Takaful Maldives PLC, in a press statement.

Amana Takaful is the first Shari’ah compliant insurance company listed in the Maldives. It first came to the Maldives from Sri Lanka in 2003 in concept-form, and was licensed to provide insurance in 2010.

The IPO launch received support from Capital Marketing Development Authority (CMDA), Maldives Stock Exchange and the Maldives Monetary Authority (MMA).

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ACC fowards Nexbis case to Prosecutor General

The Anti-Corruption Commission (ACC) has forwarded corruption cases against Former Controller Ilyas Hussain Ibrahim and Director General of Finance Ministry, Saamee Ageel to the Prosecutor General’s Office (PG) .

The ACC alleged the pair had abused their authority for undue financial gain in giving the US$39 million Border Control System project to Malaysia’s Nexbis Limited.

The border control agreement was signed on November 17, 2010. However the upgrade stalled earlier this year when the Anti-Corruption Commission (ACC) expressed concerns about the deal, claiming that there were “opportunities for corruption” during the bidding process.

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UN, UNDP catch up on country, economy with President

Assistant Secretary General at the United Nations and the Assistant Administrator at UNDP Ajay Chibber today paid a courtesy call to President Mohamed Nasheed to discuss the current state of affairs in the Maldives.

At the meeting held at the President’s Office, President Nasheed noted that maintaining relations between the organisations and the Maldives was an important factor in continued national development.

The President also updated Chibber on the current political environment in the Maldives. The country’s Islamic Ministry reacted strongly to UN Human Rights Chief Navi Pillay, who called for a moratorium against flogging last month. A Protest to Defend Islam is scheduled for December 23.

The President later called the controversy, which included protests and letters of complaint to Parliament and the UN, a missed opportunity to demonstrate “the nobility of Islamic Shariah.”

The UN Assistant Secretary General said the development of national institutions was critical towards the Maldives’ ongoing transition into the middle income country category.

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Ali Sulaiman made State Dignitary

Ali Sulaiman of Maafannu Lucky Star was yesterday conferred the title of ‘State Dignitary’ by President Mohamed Nasheed, “in recognition of his invaluable service to the state”, the President’s Office reports.

In a ceremony at the Upper North Regional Office in Haa Dhaal atoll Kulhudhuffushi, Sulaiman was credited for his “immense services” to the country and nation, and particularly noted for his role in bringing a multi-party political system to the Maldives.

In his 33-year long service to the state, Sulaiman served as Haa Dhaal atoll MP, Manager of Haa Dhaal atoll shop, Island Chief of Haa Dhaal atoll Vaikaradhoo and Haa Dhaal Atoll Chief. During this time he has helped develop education and other social services locally.

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DRP camp and Thasmeen’s house attacked, claims party

The main opposition Dhivehi Rayyithunge Party (DRP) has released a press statement claiming the party’s main rally site and leader Ahmed Thasmeen Ali’s house was vandalised on Tuesday night.

According to the statement the DRP camp was ransacked, while the gate of Thasmeen’s house was damaged by the attackers. It did not state the extent of damage.

The DRP claimed the party’s gatherings had been disrupted and leaflets circulated threatening a “suicide attack” if the it held any gathering in Male’.

The DRP said the party’s leader and members would “not be demoralised” by the “cowardly acts to threaten the party”, and would continue to campaign to win the 2013 presidential elections.

The attacks have been reported to the police, according to the statement.

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First GST earnings at Rf43 million

The Maldives Inland Revenue Authority (MIRA) has released figures showing that the first round of income received as Goods and Services Tax (GST) reached Rf43 million (US$3 million), while the state earned a total of Rf312.8 million in November.

This is a five percent increase compared to October, during which a total of Rf298 million was collected in taxes, rent and fees.

Tourism Goods and Services Tax (T-GST) accounted for the largest income received (Rf81.8 million) while the Tourism Tax came in second with Rf73 million.

Total state income stands at Rf4 billion for the year so far (US$259 million), according to MIRA.

Presenting the 2012 budget to parliament in November, Finance Minister Ahmed Inaz predicted that altogether, government income was expected to reach a record Rf9 billion (US$583 million) this year.

Total expenditure out of the 2012 state budget is estimated to be Rf14.6 billion (US$946.8 million), an 18 percent increase from 2011. However the Inaz highlighted that recurrent expenditure was in line with income for the first time in many years, and the deficit was expected to drop to single figures.

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Maldivian hotelier arrested in India for not passing guests’ details to police

A Maldivian national, identified by Indian authorities as Salim Haji, was arrested in Trivandrum for allegedly running a hostel without informing police of his visitors’ details.

Haji was presented before the Indian court on the charge of violating the Foreigner’s Registration Act (FRA) and has been remanded in judicial custody, Haveeru reports.

Indian police were running a pre-tourism season security check to ensure that guest housing establishments had registered foreign guests with the local station house.

India’s The Hindu today reported that a small section of foreign travelers misuse their visas to run commercial operations, mainly homestays for foreign holiday-makers and Maldivian nationals visiting the city for medical treatment and educational purposes.

The article estimates that 4,000 Maldivians live in Trivandrum.

Maldivians are currently allowed to spend up to 90 days in India without a tourist visa.

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Fire truck delays flights at Kahdhoo airport

A fire truck malfunction has halted flight operations at Laamu atoll Kahdhoo’s domestic airport.

Technicians are working on repairs, a senior official from Island Aviation told Haveeru.

The fire category, which needs to be at a certain level to land an aircraft, reached zero, the official said. Further details of the malfunction were not available.

On September 21 Island Aviation also ceased operations to Kahdhoo airport for four hours due to another fire truck malfunction.

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