President Muizzu ratifies seven bills passed by Parliament
31 އޯގަސްޓު 2026 | ހޯމަ 11:11President Muizzu has ratified legislative amendments mandating resorts to exchange 40 percent of their foreign currency earnings through local banks and prohibiting the sale of dollars above the official exchange rate, as well as any public discourse regarding such transactions.
President ratifies second amendment to the Income Tax Act. | Presidents Office
President Dr. Mohamed Muizzu has ratified seven bills passed by the People's Majlis during its previous session.
President Muizzu ratified these bills during a ceremony held at the President's Office on Monday.
Among the bills ratified by President Muizzu is an amendment mandating resorts to exchange 40 percent of their foreign currency earnings through local banks. Additionally, the legislation includes a provision prohibiting the sale of dollars above the official exchange rate and criminalizing any public discourse or promotion regarding such transactions.
At the same time, the President has ratified a newly passed law granting him full authority over the leasing of uninhabited islands, along with the bill proposing the second amendment to the Fisheries Act.
In addition, President Muizzu has ratified the Land Transport Bill, along with amendments to the Tax Administration Act and the Income Tax Act.
However, President Muizzu has not yet ratified the legislative amendment passed by Parliament that would grant the government the authority to reclaim lands currently under the jurisdiction of local councils.
