Sun Siyam Resorts to pay service charges in rufiyaa

Sun Siyam Resorts, one of the Maldives’ largest tourism groups, has decided to pay employee service charges in Maldivian rufiyaa.

In an internal memo shared on social media, the company said it had held several discussions with authorities to address challenges arising from recent changes to the Foreign Exchange Act. However, no solution has been reached so far.

The company said it has continued to pay service charges in US dollars but has found this increasingly difficult due to financial pressures caused by the changes to the foreign exchange law.

As a result, Sun Siyam said that from this month onwards, service charges will be paid in rufiyaa to all employees, both local and foreign. Staff who do not yet have rufiyaa accounts have been asked to open one and submit their bank details to the human resources department.

Sun Siyam operates six resorts in the Maldives: Sun Siyam Irufushi, Sun Siyam Iruveli, Sun Siyam Vilu Reef, Sun Siyam Pasikudah, Olhuveli and Siyam World. The group employs more than 2,000 staff across its properties.

The move comes as other major tourism companies take different approaches. Crown and Champa Resorts, the largest Maldivian-owned tourism group, has decided to pay salaries in US dollars this month.