The Maldives Industrial Fisheries Company (MIFCO) has announced the successful settlement of payments for fishing vessel transactions up to the period ending December 26, 2024.

According to MIFCO, a total amount of MVR 2,160,312 has been credited to the respective accounts.

The company has urged stakeholders to review their accounts to confirm receipt of the payments.

This latest settlement reaffirms MIFCO’s dedication to ensuring timely and transparent financial transactions in support of the country’s vital fishing industry. 

This announcement comes amid significant reforms aimed at streamlining payment processes for fishermen.

Recent agreements involving MIFCO and financial institutions have reduced delays, with payments now credited within 48 hours of catch weighing for most operators.