The regulation to be gazetted on Thursday, will formalize the fishermen’s registry and facilitate collaboration with banks, such as the Bank of Maldives (BML) and the Maldives Islamic Bank (MIB). Fishermen will also gain access to schemes provided by STO.
President Dr Mohamed Muizzu has said that regulations for the National Registry of Fishermen will be gazetted this week, ensuring fishermen receive the same opportunities as those in other professions.
Speaking during his visit to Gaafaru as part of a tour of Kaafu Atoll islands yesterday, President Muizzu stated that the process of compiling the fishermen’s registry is progressing rapidly.
Addressing the concerns of fishermen, the President noted that fishing has not been recognized as a formal occupation, leading to challenges such as difficulties in securing loans from banks.
In response, his administration worked on establishing the registry and drafting regulations to empower fishermen during its first year. These efforts aim to ensure that fishing is acknowledged as a legitimate income-generating activity.
The regulation, set to be gazetted on Thursday, will formalize the fishermen’s registry and facilitate collaboration with banks, such as the Bank of Maldives (BML) and the Maldives Islamic Bank (MIB). Fishermen will also gain access to schemes provided by the State Trading Organization (STO).
The President added that fishermen have already started registering and emphasized that the regulation will enable them to access banking facilities and state-provided social security and subsidies, bringing fishing on par with other professions.
Additionally, the President assured that fishermen would now be paid within 48 hours of selling their catch, fulfilling a key promise made during last year’s presidential campaign. He said that delays had occurred due to the condition of MIFCO (Maldives Industrial Fisheries Company) when his administration took office.
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