The opposition MDP opened its three-day congress at the Malé City Council grounds with more than 900 delegates. In his remarks, former President Nasheed, the party's chairman, vowed to unseat President Dr Muizzu. "Lying, deceiving and cheating is this government's only aim. They don't have the slightest intention of doing anything for the people of the Maldives," Nasheed said. Former President told delegates the party had to regain public trust, starting from within. "No individual is bigger than this party, and no party is bigger than this country," Solih said, urging the party to acknowledge past mistakes and set aside unnecessary differences. The party reopened registration for eligible delegates who missed the 25 September deadline. Nearly 1,000 delegates will vote on Saturday on amendments to the party charter, including one that would bar the chairperson from any role in the presidential primary, as well as resolutions on decentralisation. An investment forum offering council projects to investors will be held on Friday.
Solih also used his speech to oppose the Rasmalé deal, saying an MDP government should not allow any project carried out under a secret agreement. The party was not against foreign investment or residency visas granted under proper rules, he said, but the government and Eagle Hills must disclose what the agreement contains. "Fushidhiggaru lagoon is being reclaimed with the Maldivian people's money – nearly US$700 million. Of that, 500 hectares, more than twice the size of Malé, is being given away free to foreigners. What does the public gain from this?" he asked. Solih contrasted the deal with his administration's lease of Vaavu Fottheyo lagoon, which he said brought in US$43 million with the land reclaimed at the investor's expense.
The Hajj Corporation cancelled all agreements to sell apartments in its Niam Residences development in Hulhumalé to staff, after Dhauru reported that senior executives had reserved penthouses at discounted prices under a policy the management drew up. Those named included Elections Commission president Mohamed Shakeel, who was managing director when the luxury development and the staff scheme were approved, as well as former CEO Najeeb Ahmed and current deputy managing director Mohamed Shihab. The company said it cancelled the sales to maximise returns from each unit and that the apartments would be opened for public sale once pricing was finalised.
The new Land Transport Act came into force, making reckless and careless driving offences punishable by fines of MVR25,000 (US$1,620) to MVR100,000, rising to MVR100,000 to 500,000 if someone is injured. Offenders can also face criminal charges under the Penal Code and lose their licence, or the right to obtain one, for five to 10 years. Riding without a licence carries a fine of MVR1,000 for a first offence, rising to MVR2,000 by the third and doubling with each offence after that, and the vehicle can be impounded for up to 30 days, with the owner also fined MVR2,000. Illegal parking will be fined MVR500 and recorded as demerit points on the driver's licence, rising to MVR1,500 for parking at junction corners, bus stops, zebra crossings or outside school zones.
Bank of Maldives introduced a monthly limit of US$3,500 per customer on dollar withdrawals from its ATMs, effective 1 October, while keeping the existing daily limit of US$1,600 per card. The bank said the cap was part of a shift towards "digital-first" banking and away from reliance on cash.
Majority Leader Ibrahim Falah said the money exchange company revealed in his asset declaration exists in name only and has not carried out any transactions. Falah, who registered Sun Currency Exchange last year, told Adhadhu he set it up because his businesses, including four safari vessels, earn in dollars. "Even if you trade dollars at the bank rate in the Maldives, you need special permission, so I formed the company," he said. "But since no such transactions are being done yet, and there is no need to, I haven't sought an MMA licence."
Maldives Airports Company Limited executive director Mohamed Mihad and board member Sahar Waheed were removed from the MACL board with effect from 1 October.
President Muizzu established a new state-owned company, National Exchange Limited, to develop and run a government-backed secondary securities market. The company's mandate includes the issuance, listing and trading of government securities and sukuk, as well as clearing, settlement and depository services, and it is intended to support the state's financing needs and expand Islamic finance.
Commercial operations at the new port in Thilafushi will begin by November next year, Muizzu said during a visit to the site. Port operations will begin at Thilafushi on 27 October, running alongside Malé's commercial harbour to ease delays in unloading cargo, MPL CEO said during the president's visit. Muizzu said the first phase of the new port, four times the size of the Malé harbour, would open on 11 November next year. The first 100 metres of the domestic quay wall has been completed and about 40 per cent of backfilling is done, while a contractor for the terminal buildings is still being selected. China Harbour Engineering Company was contracted in July to build the international and domestic quay walls. The 60-hectare port will initially handle 390,000 TEUs a year, with a 375-metre international quay wall expected to cut vessel turnaround times from the current seven to 14 days at Malé to about two days.
A total of 1,028 young people completed training in the first year of the National Service Programme, meeting the government's target of 1,000, while another 136 completed additional skills training. Muizzu said the programme would be expanded with new components, including an internship scheme.
