News Desk
MALÉ, Maldives — On the day many Maldivian parents were anxiously discussing how to secure U.S. dollars for their children’s university fees abroad, the country made headlines for a different reason: an $81,000 cash haul discovered in an unlikely place. Aviation Security Command officers seized the money, hidden in a box of cornflakes, from the luggage of a Bangladeshi national flying from Malé to Dhaka. The seizure underscored growing concerns over the control of foreign currency markets and a government crackdown on illegal currency smuggling.
The discovery was made at Velana International Airport (VIA) by the Aviation Security Command’s screening team during a routine check. The cash, totaling $81,030 (equivalent to MVR 1.2 million), was concealed in what appeared to be an ordinary cereal box, with dollar bills bearing the names of different people written on them. The foreigner was set to depart on a flight operated by US-Bangla Airlines, but instead was arrested and taken into custody for further investigation.
According to Maldivian law, travelers carrying more than $20,000 out of the country are required to declare the sum to customs officials. The seized cash exceeded this limit fourfold, raising suspicions about the nature of the transaction and potential violations of foreign currency regulations.
This is not an isolated incident. The Maldives has been grappling with a significant dollar crunch, with families finding it increasingly difficult to secure foreign currency for overseas expenses, such as tuition fees for students studying abroad. Amid these challenges, the revelation that such large sums are being smuggled out of the country has raised eyebrows and sparked a debate on the state of the foreign currency market.
Home Minister Ali Ihusaan has been taking a tough stance as part of a broader strategy to curb illegal activities and protect the nation’s economy. Maldives Immigration, along with other relevant authorities, is ramping up efforts to crack down on illegal operations within the country.
The Maldives has long been a magnet for expatriate workers, particularly from Bangladesh. While many foreign nationals adhere to legal channels, a growing number of Bangladeshis are making headlines for operating underground businesses, overstaying their visas, and engaging in other illegal activities.
In response, Maldives Immigration has been working closely with the Home Ministry, airport security, the Maldives Food and Drug Authority (MFDA), the Maldives Police Service, and other law enforcement agencies to strengthen food security and tighten financial regulations. This coordinated effort aims to stem the tide of illegal businesses and the flow of undeclared wealth.
As the investigation into the cornflakes cash haul unfolds, authorities are expected to uncover more details about the origins of the money and its intended destination. For now, the incident serves as a stark reminder of the ongoing challenges the Maldives faces in managing its foreign currency resources and the lengths some individuals will go to bypass regulations.
