The Public Accounts Committee (PAC) has approved the completion of its review of the Foreign Exchange Bill, which aims to give legal backing to existing regulations requiring banks to exchange dollars received by resorts.

The bill, introduced in parliament by Ibrahim Falah, MP for Inguraidhoo and leader of the PNC, was debated on Monday. During the session, 51 out of 56 members present voted against rejecting the bill, while four members opposed it. Following this, Speaker of Parliament Abdul Raheem Abdulla sent the bill to the Public Accounts Committee for further consideration.

At today’s PAC meeting, Baarah MP Ibrahim Shujau proposed completing the review of the bill by 1800hrs. The proposal was seconded by Fuvahmulah North MP Hamad Abdulla and approved by the committee. The meeting was chaired by Ahmed Saleem, MP for Edafushi and vice-chair of the committee.

A motion to keep the committee meeting confidential was also introduced by MP Ibrahim Shujau, supported by Hanimaadhoo MP Abdul Ghafoor Moosa of the MDP. The motion was passed, and the meeting proceeded behind closed doors.