A long-standing concern for Maldivian fishermen has been the prolonged delay in receiving payments for their catch, a challenge that made fishing increasingly unsustainable for many families.

This has changed significantly following the fulfilment of a presidential pledge by President Dr Mohamed Muizzu. Since 10 December 2025 the Government has ensured that fishermen receive their payments within 48 hours of selling their catch.

The arrangement was made possible through an agreement between Bank of Maldives (BML) and the Ministry of Finance and Planning. As of 29 October 2025 a total of MVR 721 million has been deposited to fishermen under this system.

Statistics from the Maldives Monetary Authority (MMA) show strong growth in the fisheries sector, a trend that many attribute to the Government’s efforts to stabilise income for fishermen. Timely payments have encouraged numerous fishermen who had left the industry due to financial constraints to return. As a result, the number of active fishing vessels has increased across the country.

Fish exports have surged by 91.8 per cent in the first nine months of 2025 compared to the same period last year. Fish purchases by processing companies have also risen sharply, increasing by 75.9 per cent from 39,684.5 metric tonnes in 2024 to 69,786 metric tonnes in 2025.

Alongside the 48-hour payment system, the Government has also established a National Fishermen’s Register. This enables fishermen to access financial services through the banking system. Further initiatives are underway to strengthen fisheries infrastructure, including new ice plants, processing facilities, and cold storage. Loans have also been extended to fishermen for the purchase of RSW systems, supporting higher-quality catch and enabling them to spend more time at sea.