The government has decided to establish a seven-member board to manage the Tourism Trust Fund, which was created to support and provide financial assistance to the tourism industry.
The proposed board will include representatives from the President’s Office, Ministry of Tourism, Ministry of Economic Development, Ministry of Finance, Attorney General’s Office, Ministry of Construction, and the Maldives Inland Revenue Authority (MIRA). The board will be chaired by the Minister of Tourism, with each member serving a five-year term.
Once formed, the board will be responsible for overseeing the use of the fund, including monitoring expenditures and determining how the funds are allocated to support the tourism sector.
The fund is also required to prepare annual financial and activity reports, which must be submitted to Parliament, the Auditor General, the Ministry of Finance, and the Ministry of Tourism.
The proposed board will include representatives from the President’s Office, Ministry of Tourism, Ministry of Economic Development, Ministry of Finance, Attorney General’s Office, Ministry of Construction, and the Maldives Inland Revenue Authority (MIRA). The board will be chaired by the Minister of Tourism, with each member serving a five-year term.
Once formed, the board will be responsible for overseeing the use of the fund, including monitoring expenditures and determining how the funds are allocated to support the tourism sector.
The fund is also required to prepare annual financial and activity reports, which must be submitted to Parliament, the Auditor General, the Ministry of Finance, and the Ministry of Tourism.
