News Desk
MALÉ — As the Maldivian tourism industry faces mounting financial headwinds linked to the ongoing conflict in the Middle East, the Bank of Maldives (BML) has reaffirmed its commitment to supporting the sector.
Mohamed Shareef, the bank’s Chief Executive Officer and Managing Director, stated that BML is working closely with key stakeholders to assess the impact of global instability on the local tourism market. The bank is maintaining an open dialogue with resort operators, guesthouse owners, and associated businesses to monitor their financial health and provide necessary relief.
“Our primary focus at this juncture is to stand firmly with the tourism industry,” Shareef said. “Through open communication with stakeholders, we can facilitate the operational support businesses need to overcome current challenges and provide financial solutions that sustain the industry’s overall confidence”.
The intervention comes as the industry grapples with the fallout of the Middle Eastern conflict. Tourism Minister Thoriq Ibrahim reported yesterday that 496 flights to the Maldives have been cancelled thus far. Additionally, the minister noted a decline of approximately 1,150 tourists per day this month compared to previous trends.
As tourism serves as the backbone of the Maldivian economy, BML has prioritised the sector’s resilience in its national mandate. The bank has indicated that it will continue to closely monitor the evolving global situation and stands ready to adjust its support measures to ensure the industry’s long-term sustainability.