Hotel and airline boss speaks out after quitting Maldives president’s tourism team over foreign currency crackdown
Mohamed Khaleel said he resigned after his warnings about the government’s foreign-exchange policy were not accepted
KUALA LUMPUR: Malaysia has tentatively agreed to offer the Maldives a US$100 million currency swap arrangement, with Bank Negara Malaysia and the Maldives Monetary Authority collaborating on the details. Prime Minister Anwar Ibrahim disclosed this during a visit to the Maldives at the invitation of President Mohamed Muizzu. The proposed mechanism, as suggested by the MMA, has received Malaysia's initial approval.
Anwar emphasized that this decision underscores the strong bond between the two nations, expressing hope for swift implementation. The central banks plan to finalize the specifics of the facility as soon as possible. Anwar also mentioned expedited processes, highlighting the deep ties between the countries. Muizzu, in return, thanked Malaysia for considering this facility, noting the value it adds to their bilateral economic ties.
This currency swap could be one of several economic issues addressed through the upcoming Malaysia-Maldives Joint Commission, which Anwar plans to convene in Kuala Lumpur by the year's end.
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- Malaysia agrees in principle to US$100mil currency swap with Maldives nst.com.my
- Hotel and airline boss speaks out after quitting Maldives president’s tourism team over foreign currency crackdown arabianbusiness.com
- Signing of the Third Bilateral Swap Arrangement between Japan and Malaysia boj.or.jp
