The Maldives Airports Company Limited (MACL) has announced that the upcoming Air Service World Congress 2024, scheduled for July 9, will significantly boost the tourism industry of the Maldives.

The Air Service World Congress is a major platform for international representatives from the route development community to discuss the future of global air service growth and development. This year’s event will take place from July 9 to July 11 in Kurumbaa Maldives and is organised annually by Global Travel Investment. A total of 150 representatives from various airlines, including local airlines, are expected to participate in this grand event.

Speaking on a programme aired on PSM News, General Manager of MACL’s Communication and Media Department Haamidh Huzam stated that local stalls will be set up at the conference. He added that the congress will play a pivotal role in boosting economic activity, providing a unique experience for participants to see photos and videos of the Maldives and explore the country firsthand. Huzam expressed confidence that the congress will pave the way for the growth of the nation’s tourism industry, though he noted that the benefits might be gradual.

Huzam also highlighted that the Air Service World Congress will offer an opportunity to promote the Maldives’ aviation landscape and brand. He pointed out that air transport services in the Maldives initially commenced in response to increasing demands in tourism. Currently, approximately 40 airlines fly to the Maldives, and Huzam mentioned that welcoming more airlines would enhance the nation’s connectivity and facilitate collaboration with different regions.

Velana International Airport (VIA) was announced as the official host of the event, following the successful conclusion of the Air Service World Congress 2023 in Oakland, San Francisco Bay Area. Since its inception in 2010, the congress has been held in several countries, including the United States, the United Kingdom, and Dubai.

Source(s): PsmNews

Maldives Islamic Bank (MIB) has introduced self-service kiosks to allow customers to access banking services independently. This initiative aims to provide a more convenient way for customers to manage their banking needs.

The self-service kiosks are currently available in the Male’ City and Hulhumale’ branches, with plans to expand the service across the atolls nationwide. MIB has assured that employees will be available to assist customers in using the kiosks as needed.

In addition to the kiosks, MIB has launched several other services to enhance customer experience. Among these is the ApplyNow service, which is recognized as one of the fastest and most effective banking portals in the nation. ApplyNow allows customers to open accounts without visiting the bank, making MIB the only bank in the Maldives to offer such a service.

The new section of the ApplyNow portal enables individuals to purchase goods and assets and withdraw money for various purposes remotely. MIB stated that all banking services will be accessible through the portal, further simplifying the banking process for customers.

Source(s): PsmNews

Maldives Industrial Fisheries Company (MIFCO) on Sunday, announced its decision to update fish purchasing rates on a weekly basis.

MIFCO in a statement on Sunday said, purchasing fish from local fishers without referring to market rates, was not financially sustainable for the company’s fish processing and export activities.

The company incurs more expenditure, which include paying to fishers, and cost of processing and sales, compared to its earnings after selling the products in global markets.

Owing to continued deficits, MIFCO generally acquired cash injections through loans and government support.

MIFCO’s decision to shift to fluctuating prices based on market rates, it said is aimed towards achieving a permanent solution, and said the changes will be effective from Monday, July 01st onward.

The purchase rates of MIFCO will based on present market rates and export costs, with the prices reviewed on a weekly basis.

MIFCO also assured to pay the remaining outstanding total to local fishers on Monday, after which state would have settled MVR 353 million to fishers so far in 2024.

“Besides this, MIFCO has paid another MVR 389 million for fish sold, while it has dibursed a total of MVF 831 million inclusive of fuel and ice credit,” MIFCO’s statement read.

MIFCO’s announcement after the decision was revealed at the Public Accounts Committee of the parliament last Wednesday, where Minister of Finance Dr. Mohamed Shafeeq assured to price reviews will be discussed at the next Economic Council meeting.

With delays in settling the pending total to fishers, an emergency motion was submitted last week to the parliament seeking an expedited solution for the issue.

Source(s): sun.mv