Former President Ibrahim Mohamed Solih has expressed concerns about the lack of trust businessmen in the Maldives have in the nation's banking system. Speaking during Raajje TV's programme evaluating the government's performance under President Dr Mohamed Muizzu, Solih discussed long-standing challenges with foreign exchange management in the country.

He noted that the tourism sector is the primary source of foreign currency in the Maldives, contributing 90 percent of the total dollar influx. Solih stressed the importance of ensuring that these dollars are adequately circulated within the local economy. However, he questioned whether current regulations are effective and emphasised the need for thorough consultation with stakeholders.

Solih explained that stakeholders, such as those in the tourism sector, already bear substantial financial burdens, including taxes, loans, and operational costs. He argued that any new policies must be carefully studied to avoid placing undue strain on the sector.

Reflecting on his own administration, Solih said efforts were made to stabilise the dollar market through two key proposals to the business community. One suggestion was to mandate that banks earmark 10–30 percent of tourism income as reserves. The second involved requiring businesses to retain 30% of their revenue in local banks for three months, with assurances that the required dollars would be provided for overseas transactions.

These measures, according to Solih, were intended to enhance financial stability while maintaining stakeholder confidence. However, the transition of government halted their implementation.