Maldives Issues New Directives for Migrant Workers' Bank Accounts
The Maldivian Ministry of Home Affairs has instructed employers to ensure migrant workers open bank accounts in their own names. Under the revised regulations, all salaries must be deposited directly into these personal accounts.
The government of the Maldives has implemented significant changes regarding the financial management of migrant workers employed within the island nation. In an official directive issued on September 15, 2026, the Maldivian Ministry of Home Affairs mandated that employers must facilitate the opening of bank accounts in the individual names of all migrant workers.
According to the newly revised regulations announced by the ministry, employers are no longer permitted to disburse wages through alternative methods. Instead, every migrant worker's salary must be directly deposited into a bank account held specifically in the worker's own name, ensuring greater transparency and financial security for the foreign labor force.
To comply with the updated rules, the directive specifies strict guidelines concerning which financial institutions can be utilized for these transactions. When processing the salary payments, employers are legally required to use only those banks and financial institutions that have been officially registered or approved by the Maldives Monetary Authority (MMA).
The announcement regarding these financial compliance measures was officially noted by the Bangladesh High Commission in the Maldives, reflecting the broader regional interest in the welfare and employment conditions of expatriate workers residing in the host country.
These comprehensive regulatory updates are expected to reshape employment practices across various sectors in the Maldives that rely heavily on migrant labor, bringing the nation's wage disbursement procedures into closer alignment with official monetary standards overseen by the Maldives Monetary Authority.
