Legislature submitted to empower Chamber of Commerce

The Maldivian government has submitted legislature designed to legally empower the National Chamber of Commerce and Industry.

The legislature, Maldives National Chamber of Commerce and Industry Bill, submitted on behalf of the Maldivian government by Maradhoo MP Ibrahim Shareef (Mavoata Shareef) has 57 articles.

The stated purpose of the legislature to establish an independent source which can represent Maldivian business enterprises in communications with the Maldivian government and international parties, and represent the Maldivian business enterprises in general.

Another purpose is to remedy current challenges due to the lack of such a law, regulate the current Chamber of Commerce and all its activities within the rule of law, establish the legitimacy of the organization, and help increase the efficiency of the Maldivian business market.

Once the legislature is enacted, all assets, paperwork and liabilities of the current Chamber of Commerce will be transferred to the new Maldives National Chamber of Commerce and Industry.

It will also establish the organization as an autonomous legal entity, and charged it with the responsibility of managing the register of all Maldivian business enterprises, issuance of certificate of origin, and holding trade fairs.

The organization will be run by a governing board made up of a president, two vice presidents, a secretary-general and seven general members.

The current Chamber of Commerce, though previously highly active, has lately been very inactive. The organization is currently being run Ahmed Asif, who was later seen playing an active role in the political arena rather than the running of the organization.