The government announced on Monday its plans to engage in discussions with the US government to enable access to PayPal, a globally recognized payment system facilitating money transfers worldwide.
Principal Secretary to the President on Public Policy, Abdulla Nazim Ibrahim, stated during a press conference at the President's Office that the Cabinet has decided to initiate the process of overcoming obstacles to accessing funds through this online payment platform.
Currently, the Maldives can only send money through PayPal, creating a hindrance for businesses and income-generating activities relying on online transactions.
To address this, e-wallet services will be set up within a week through the collaboration of the Maldives Monetary Authority (RBI) and discussions with the US government.
The government also expressed its intention to pursue access to other platforms similar to PayPal and seek technical assistance for internet and cybersecurity concerns.
Nazim said that the drafting of a specialized bill for the implementation of a cybersecurity law, emphasizing the importance of this aspect in internet and cybersecurity.
Support from the UAE and Turkish governments has been enlisted to facilitate these initiatives.
President Dr. Mohamed Muizzu has made a presidential pledge to make PayPal and other online payment systems accessible in the Maldives.
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