Loans to tourism sector surge to MVR 12 Billion

The total amount of loans taken through banks for tourism purposes has reached MVR 12 billion.

Statistics from the Maldives' central bank, the Maldives Monetary Authority (MMA), show that until January, businesses had borrowed up to MVR 32 billion from various financial institutions in the country. Thirty-five percent of the money was borrowed by businesses in the tourism industry.