Amid new dollar exchange regulations, fear of skilled doctors leaving the Maldives grows

With the new dollar exchange regulations introduced by the Maldives Monetary Authority (MMA), fear of skilled foreign doctors working in the Maldives leaving the country has been snowballing.

A reliable source told RaajjeMV that doctors working at Tree Top Hospital, one of the largest private hospitals in the Maldives, have been informed that their salaries will no longer be paid in dollars.

RaajjeMV understands that several contracts between the hospital and foreign doctors working in the Maldives stipulate that salaries will be paid in dollars.

Speaking to RaajjeMV on the condition of anonymity, an official at the hospital revealed that due to the government's new dollar exchange regulations, hospital management has informed them that they can no longer pay in dollars. They are to have informed that there wouldn’t be enough dollars if they exchange according to MMA's new rules.

Further, the official noted that when paying salaries in Maldivian Rufiyaa, the calculation must be done at the MMA rate, which is also a complaint of employees who were previously paid in dollars.

The official stressed that professional staff don't want to go around buying dollars from the black market. However, with an official rate in place, they couldn’t calculate salaries at any other rate.

The official noted that the hospital had sent a letter to the MMA to resolve the issue, but no satisfactory response had been received.

RaajjeMV understands that Tree Top Hospital has now sent a letter to professionals who were previously paid in USD, informing them of the change in salary policy.

The Tree Top official went on to note that several doctors are complaining and expressing their disappointment with the new policy.

It is important to note that for those whose salaries were set in USD, converting to MVR at the MMA rate would result in a loss of two to three thousand MVR if they were to buy USD on the black market.

Tree Top Hospital employs doctors from the region as well as from Europe.

When asked if skilled doctors might leave the Maldives due to this change in salary policy, the Tree Top official stressed that if a solution is not sought, it is possible they might move to other countries where conditions are more favorable.

RaajjeMV has learned that the shareholders of the company operating Tree Top are from the tourism industry. With the MMA's publication of the new USD exchange regulations, the shareholders have now informed the hospital management that they can no longer continue their USD contributions to hospital operations as before.

This comes at a time the High Commission of India in the Maldives has reached out to the central bank regarding the issue of Indian workers in the Maldives being unable to obtain USD to send their salaries to their families back home. According to available information, the Indian High Commission has requested the central bank to increase the amount of USD released to banks for workers to purchase the required amount of USD.