Minister of Economic Development and Trade, Mohamed Saeed, announced the introduction of RuPay cards in the Maldives by the end of August. This initiative is part of the government’s strategy to build a creator economy.
In an interview with state media, Saeed highlighted steps taken to foster this economy, including the development of a national payment platform and integration with major regional markets, backed by India. The Indian RuPay card, launched by the National Payments Corporation of India (NPCI), offers lower transaction fees and a secure payment solution.
Saeed emphasized the potential income for Maldivian content producers but noted the lack of convenient payment methods. He also announced the activation of WeChat Pay and dollar wallets for the Bank of Maldives (BML) and the Maldives Islamic Bank (MIB), as well as ongoing discussions with banks and regional offices to optimize TikTok use with support from China.
These initiatives aim to enhance the Maldives’ financial infrastructure and support the growth of its digital economy.
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