President Dr. Mohamed Muizzu stated last night that small and medium enterprises (SMEs) will be able to accept USD transactions via the Bank of Maldives' (BML) Payment Gateway. 

During the awards ceremony for the Maldives Expo 2026, President Muizzu said via an opportunity from the Bank of Maldives (BML), Ministry of Economic Development, Transport and Trade and Business Center Corporation (BCC), arrangements have been made where Maldivian manufacturers will be able to receive payments in USD from the international market via the BML Payment Gateway from 1st November 2026. 

He also said that it will be easier to make payments for subscription services used by businesses.

"We hope to make arrangements for procuring foreign goods and services from Maldives with the payments made in USD via remittances and the usage of cards. Arrangements will come into force from 1st November 2026 where businesses will be able to easily pay for services they use such as subscription payments," mentioned the President.

During the ceremony, the President announced additional concessions for SMEs. This includes finalized arrangements to allow businesses to offset outstanding government dues against taxes owed to the state, raising the mandatory Goods and Services Tax (GST) registration threshold from MVR 1 million to MVR 1.5 million and that list of raw materials that are imported to Maldives by SMEs will be created, with zero-rate import duties being offered on those materials.

In addition, the government plans to reduce import duties on certain goods for five years from 1 January next year.

President Muizzu said the measures were intended to remove barriers to income growth and create better opportunities for businesses across the country.