Minister Saeed says legal and regulatory measures underway to resolve Taxi Nafaa loan problems

Transport Minister Mohamed Saeed has said urgent efforts are underway to find a legal solution to the issues surrounding the ‘Taxi Nafaa’ loan scheme.

The minister was speaking after concerns were raised over the loan programme, which has remained unresolved for more than a year. The scheme was introduced to help Maldivians start taxi services in the Greater Male' area.

In a letter addressed to the minister, a borrower identified as Adam Saleem said lenders were repeatedly pressuring him to repay the loan while the vehicles issued under the scheme had not been registered. He said borrowers were facing serious difficulties and requested an immediate solution.

Following the letter, Minister Saeed met with several Taxi Nafaa loan recipients on Tuesday.

މިނިސްޓަރ މުޙައްމަދު ސަޢީދަށް އެޑްރެސްކުރައްވައި މީސްމީޑިއާގައި ޝާއިޢުކުރެއްވި ސިޓީއާ ގުޅިގެން މިއަދު މިނިސްޓަރ @em_saeed ވަނީ ޓެކްސީ ނަފާ ލޯން ސްކީމްގެ ދަށުން ލޯނު ލިބިފައިވާ ބައެއް ފަރާތްތަކާއެކު، ކަމާގުޅުހުންހުރި ފަރާތްތައް ހިމެނޭހެން ބައްދަލުކުރައްވާފައި.
މި ބައްދަލުވުމުގައި… pic.twitter.com/KMwNORzdea

— Ministry of Economic Development,Transport & Trade (@MoEDmv) April 28, 2026

After the meeting, the minister said in a post on X that he was listening to the concerns of borrowers and working swiftly to resolve the issue through the law and relevant regulations.

The loan was introduced by the former SDFC, now SME Digital, on 4 September 2023. However, applicants received the funds after the current government took office, coinciding with the parliamentary elections.

Drivers have complained that the cars purchased under the loan remain unregistered and unused. Taxi drivers also staged protests in late 2024 over the issue.

At the time, the Drivers Association said some borrowers were burdened with loans of MVR 179,000 without receiving a registered, usable vehicle, describing the situation as an insult to taxi drivers by state institutions.