Mamdhooh says MDP’s opposition to amendment reveals 'who is behind' dollar black market

PNC’s Funadhoo MP Mohamed Mamdhooh has criticised the opposition Maldivian Democratic Party (MDP) over its stance on amendments to the Foreign Exchange Bill currently under review by the Parliamentary Public Accounts Committee.

The committee has approved amendments that would make reporting black-market dollar selling rates a criminal offence, punishable by fines ranging from MVR 25,000 to MVR 500,000. The move has drawn widespread criticism on social media.

In a post on social media, Mamdhooh accused the MDP of opposing every measure taken to curb the dollar black market. He said the party had opposed the amendment to ban black-market dollar sales and would continue to oppose similar measures. He added that the MDP was particularly angered by the proposed ban on advertising or promoting dollar sales.

ޑޮލަރުގެ ކަޅުބާޒާރާ ދެކޮޅަށް، މިޤައުމުގައި ކުރި އަދި ކުރާ ކޮންމެ ކަމަކާ އެމްޑީޕީ ދެކޮޅުވާނެ! މާޒީންވެސް ފެންނަން އޮތީ މިހަގީގަތް.

ކަޅުބާޒާރުގައި ޑޮލަރު ވިއްކުން މަނާކޮށް ބިލަށް ގެނެވުނު އިސްލާހާ މިއަދުވެސް އެމްޑީޕީ ދެކޮޅު. މާދަންވެސް ދެކޮޅުވާނެ.

ސިއްރުގައިވެސް އަދި… https://t.co/Z0dgYS1mPy

— Mohamed Mamdooh (@Mamdooh_Yoonus) August 19, 2026

“This will probably lead to revealing who is behind the black market in dollars. The MDP remains the strongest opponent of abolishing the black market, citing various false reasons. Why, is what we should think about,” Mamdhooh wrote.

According to the Public Accounts Committee’s amendment, it will be prohibited to advertise foreign exchange rates above the official rate or specified band. This includes publishing, disseminating, repeating or communicating such information for the purpose of advertisement, encouragement or public dissemination through any digital medium or platform.

The amendment has sparked significant public debate, with many criticising the move on social media.

Hulhumale' South MDP MP Dr. Ahmed Shamheed described the prohibition on publishing black-market rates as a “gag order,” arguing that journalists must be allowed to report on issues affecting the country’s financial system. He said criminalising the reporting of black-market dollar prices marks “the beginning of something dangerous.”