A record budget of MVR 64.2 billion (US$ 4.1 billion) for 2026 was presented to parliament with projected revenue of MVR 40.2 billion and recurrent expenditure of MVR 39.9 billion. But the budget is actually MVR 55 billion when MVR 9.3 billion earmarked for the repayment of a US$ 500 million sukuk and US$ 100 million bond is excluded, President Muizzu insisted, as the opposition excoriated the proposed spending plan as “incoherent” and “detached from economic fundamentals.” The finance minister forecast economic growth of 5.3 percent.
The government scrapped plans to disburse MVR 28 million in financial assistance to 18 media outlets following allegations of unfairness, conflicts of interest, and lack of transparency. The reversal came after veteran editors, journalists and media organisations criticised the eligibility criteria and selection process. The information ministry transferred the funds to the new Maldives Media and Broadcasting Commission.
Several former colleagues and associates came to the defence of sacked deputy Customs commissioner Mahmood Riyaz, vouching for his integrity during 33 years of service, and urging the president to reconsider the decision. In a farewell message, Mahmood denied his alleged complicity in cigarette smuggling.
Following a four-year prison sentence handed down on October 8, the criminal court sentenced former Football Association of Maldives president Bassam Adeel Jaleel to a further five years in prison. He was found guilty of money laundering involving US$ 10,000 from FIFA funds deposited to FAM in 2018, which he transferred to his personal account and used to pay rent and support his wife's company. Judge Ismail Shafeeu also ordered Bassam to pay MVR 154,000 in unpaid taxes within six months, finding that he had falsely claimed the money as salary and failed to return FAM funds taken out under the guise of currency exchange transactions.
The Prosecutor General's Office withdrew money laundering charges against former MP Alhan Fahmy and his brothers, Shahban and Shazban Fahmy, after 13 victims of the family's forex trading company King's Capital were compensated. The brothers had been accused of running a Ponzi scheme and failing to deliver promised returns after collecting more than MVR 98 million in 2021. Cases involving other victims who have yet to be reimbursed remain under investigation by the police.
The PG office also declined to press charges against opposition MDP national council member Hussain Hassan for photographing a drug raid on September 10. The former journalist had been arrested after refusing orders from a police officer to delete the photos.
The national airline operator purchased a 12,481-square-foot plot of land in Hulhumalé for MVR 49.4 million. The intended use was unclear. Island Aviation Services recorded an MVR 2.8 million loss in 2023, with accumulated debt of MVR 1.79 billion and total liabilities of MVR 1.7 billion.
The Zakat Fund announced MVR 340,000 in down payments for social housing flats on behalf of 14 individuals on the national register of poor or low-income individuals. The Zakat House also announced a new Zakat Beneficiary Card, providing access to medical services not covered by Aasandha, as well as support for food, housing, and education expenses during Ramadan.
Former president Yameen’s People's National Front held its first national congress. Yameen was elected unopposed as PNF's president with Dr Mohamed Jameel Ahmed and Yameen's son Zain Abdulla Yameen chosen as vice presidents. Mohamed Maleeh Jamal was elected secretary general and Ahmed Mustafa was elected as the party's treasurer. In his speech, Yameen declared that his name will be on the ballot for the 2028 presidential election.
A 71-page bill proposed to amend the Evidence Act includes a provision that would allow testimony from individuals with conflicts of interest or hostility toward defendants. The government proposed repealing current provisions that bar such witnesses. Other changes would allow challenging the credibility of witnesses during cross-examination and eliminate the admissibility of deathbed confessions.
