MMA urged to address crisis as Indian workers in Maldives struggle to send money home amid dollar shortage

The Maldives Monetary Authority (MMA) has been approached with concerns regarding the difficulties faced by Indian citizens working in the Maldives, who are struggling to send their salaries back home to their families due to the ongoing dollar shortage.

While there is no record of such concerns being formally submitted to an official institution before, the High Commission of India in the Maldives recently submitted concerns to the central bank, stressing that Indian citizens who receive their salaries in Maldivian Rufiyaa are facing obstacles in sending money to their families back home.

This is due to the haphazard policies regarding foreign currency implemented by the incumbent administration of President Dr. Mohamed Muizzu, which has led to banks in the Maldives extremely controlling the U.S. dollar.

According to the government of India, Indian citizens working in the Maldives who receive their salaries in U.S. dollars are not facing any issues. However, those who receive their salaries in Maldivian Rufiyaa are facing difficulties due to the MMA imposing restrictions on banks in issuing dollars. The constraints imposed by the government have led to unease and concern among expatriates who receive their salaries in MVR.

As their families back home rely on the income sent by those working abroad, the inability to send money immediately is causing several hardships for these families.

In response to this issue, the Indian High Commission has consulted with the Maldivian government and the central bank, requesting an increase in the amount of U.S. dollars released to Maldivian banks to resolve this issue.

Among the expatriates living in the Maldives, a large number are Indian citizens. This includes a significant number of doctors, nurses, and teachers.