'USD 500 exchange impossible, it may destroy tourism'

4 days ago

Exchanging USD 500 for each tourist that visit resorts is impossible, and forcing resort operators to comply with the requirement will destroy the Maldivian tourism industry, says Ahmed Siyam Mohamed, the president of the Maldives Development Alliance (MDA) and head of the resort chain Sun Siyam Resorts.  The foreign exchange regulation that took effect on October 1 requires tourist establishments to