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Tour Companies Ask for Government Support After Largest Bank in Maldives Rejects Russian Payments
Russia’s travel industry has asked its government to consult Maldivian officials after the Maldives’ largest bank began rejecting payments from Russian tourists. The disruption is leaving some hotel bills unpaid and could affect a major source of tourism revenue for the islands.
The Bank of Maldives has returned payments since 18 October, with delayed or rejected transactions estimated at $2 million; some involve overseas intermediaries. Russian operators report paying repeated transaction fees, while some visitors have had to pay twice for rooms or risk eviction. Russia was the Maldives’ second-largest tourism market after China, with 258,100 visitors, or 14.3% of arrivals, from January to October. The average Russian package booking costs about 585,600 roubles ($7,000), and industry leaders say operators may reconsider promotion and investment if the issue persists.
In short
- Maldives’ largest bank has rejected some Russian tourist payments.
- Delayed or returned transactions are estimated at $2 million.
- Russian operators warn they may scale back promotion and investment.
Steelman: both sides, in good faith
The strongest fair case each way — we don't pick a winner.
The case for
Russian travel companies have a reasonable case for seeking government help: rejected payments can leave customers facing duplicate charges or eviction despite having paid, while repeated fees and uncertainty impose costs on operators. Given Russia’s importance as a tourism market, resolving the disruption through talks could protect visitors and Maldivian businesses that depend on their spending.
The case against
The Maldives and its bank may reasonably prioritise reliable payment processing and compliance with applicable financial rules, especially where payments involve overseas intermediaries. Government intervention or pressure to accept transactions could create risks or costs for the bank, and tourism businesses may need to use payment routes that meet the bank’s requirements while the cause of the rejections is clarified.
Explained simply
The Maldives is an island country in the Indian Ocean where tourism is a major part of the economy. Hotels and tour companies often rely on payments from visitors and overseas travel businesses to cover the cost of stays.
The Bank of Maldives is the country’s largest bank, while Russian tour operators organise holidays for visitors from Russia. Payments can pass through several banks or intermediaries, so a transaction may be delayed or returned along the way.
Russian visitors make up a significant share of tourists to the Maldives, making their business important to hotels and travel firms. Payment problems can leave hotels waiting for money and may affect how Russian companies sell holidays to the islands.
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