President Dr. Mohamed Muizzu has reaffirmed his commitment to addressing the challenges faced by Maldivian students under the Government loan scheme in obtaining US dollars at the official bank rate.
He made these remarks during the third episode of the Rayyithunnaa Eku podcast, hosted by the President’s Office.
The President shared that during his overseas visits, he has consistently engaged with Maldivian students studying abroad. One of the recurring concerns among students benefitting from the Government’s student loan scheme is the difficulty in acquiring US dollars at the official bank rate.
To resolve this issue, President Muizzu stated that he has instructed the Minister of Finance to devise a practical solution, with efforts already underway in consultation with the Governor of the Maldives Monetary Authority (MMA). He assured that students enrolled in overseas education under the Government loan scheme will be able to access US dollars at the bank rate.
However, the President emphasized that any measures introduced would be carefully designed to avoid negative impacts on the local market. He also noted that the funds allocated for students must be used in the country where they are studying.
The Government is committed to supporting students pursuing higher education abroad through both loan schemes and scholarship programs. Currently, over 1,600 Maldivian students are studying overseas under the Government's loan scheme.
President Muizzu reiterated that one of his top priorities is to stay connected with the people, understand their concerns, and make decisions in consultation with them. His administration remains focused on addressing the needs of the public while ensuring effective governance.
He made these remarks during the third episode of the Rayyithunnaa Eku podcast, hosted by the President’s Office.
The President shared that during his overseas visits, he has consistently engaged with Maldivian students studying abroad. One of the recurring concerns among students benefitting from the Government’s student loan scheme is the difficulty in acquiring US dollars at the official bank rate.
To resolve this issue, President Muizzu stated that he has instructed the Minister of Finance to devise a practical solution, with efforts already underway in consultation with the Governor of the Maldives Monetary Authority (MMA). He assured that students enrolled in overseas education under the Government loan scheme will be able to access US dollars at the bank rate.
However, the President emphasized that any measures introduced would be carefully designed to avoid negative impacts on the local market. He also noted that the funds allocated for students must be used in the country where they are studying.
The Government is committed to supporting students pursuing higher education abroad through both loan schemes and scholarship programs. Currently, over 1,600 Maldivian students are studying overseas under the Government's loan scheme.
President Muizzu reiterated that one of his top priorities is to stay connected with the people, understand their concerns, and make decisions in consultation with them. His administration remains focused on addressing the needs of the public while ensuring effective governance.
