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Representational Image | Canva\/AI Generated<\/p>\nNews Desk<\/p>\n
20 October 2025, 05:51 PM IST<\/p>\n
The affected workforce includes professionals from multiple sectors such as healthcare, education, and tourism, including doctors, nurses, paramedics, and teachers.<\/p>\n
Representational Image | Canva\/AI Generated<\/p>\n
Thiruvananthapuram: Around 7,000 Keralites employed in the Maldives are facing a major financial setback after the Maldives Monetary Authority (MMA) imposed fresh restrictions on dollar remittances.<\/p>\n
Under the new rules, expatriates can now transfer only up to USD 150 a month, a sharp cut from the previous cap of USD 500, and well below the earlier limit of USD 700. The reduced ceiling, equivalent to about Rs 13,000, has left thousands struggling to send money home.<\/p>\n
\u201cThis is going to be a huge crisis for people like me,\u201d said a Keralite\u00a0employed in the Maldives. \u201cWe have families to support and debts to repay. With just Rs 13,000 allowed for remittance, our situation is dire.\u201d<\/p>\n
The affected workforce includes professionals from multiple sectors such as healthcare, education, and tourism, including doctors, nurses, paramedics, and teachers.<\/p>\n
Economist Mary George said the move reflects the country\u2019s deepening financial distress. \u201cMaldives is currently in a financial situation similar to India\u2019s 1990 crisis. Unlike India, which leveraged its gold reserves, the Maldives lacks such options,\u201d she said.<\/p>\n
Observers say the restriction could worsen the financial instability of the expatriate community if the policy continues. IANS<\/p>\n