Tourism advisor Khaleel appointed to Economic Council

Mohamed Khaleel, the Advisor to the President on Tourism Development, has been appointed to the Economic Council.

The President’s Office confirmed the appointment on Monday.

Khaleel is the Managing Director of Pulse Hotels and Resorts, which is among resort chains opposed to the new foreign exchange regulations that require a mandatory surrender of USD for each tourist.

The new regulations require ‘Category A’ tourist establishments - tourist resorts, integrated tourist resorts and resort hotels – to exchange USD from a local bank at the rate of USD 500 per tourist for all monthly arrivals before the 28th day of the third month following each respective month.

Meanwhile, ‘Category B’ tourist establishments – tourist guesthouses and hotels in residential islands with registered rooms of 50 or under - must exchange USD in the same manner, but at the rate of USD 25 per tourist.

Last week, the Maldives Monetary Authority (MMA) announced that 173 out of 174 resorts operating in the Maldives had registered for USD exchange by the October 30 deadline. However, many resort operators have expressed concern over the new requirements.

Despite the opposition, President Dr. Mohamed Muizzu has said that the new regulations will remain in place.