# Maldives legislative and economic reforms > Live situation record from CLSTR: https://clstr.news/situations/maldives-legislative-and-economic-reforms > Updated: 2026-09-07T09:26:58.000Z. Sources: 12. Developments: 2. President Mohamed Muizzu has implemented a series of legislative and structural reforms in the Maldives focused on land management, economic regulation, and government restructuring. Initial reforms granted the executive branch direct authority over the designation and allocation of state-owned uninhabited islands for commercial and social use, with leases lasting up to 21 years and potential extensions to 50 years. Economic measures included stricter penalties for black-market foreign exchange activities and new requirements for foreign tour operators regarding Goods and Services Tax. Additionally, new laws require resorts to deposit 40% of foreign exchange income into local banks to prevent fraud. Subsequent actions focused on streamlining government operations and wealth redistribution. The administration announced the dissolution of Fenaka Corporation Limited and the Road Development Corporation (RDC), merging their resources with the State Electric Company (Stelco) and the Maldives Transport and Contracting Company (MTCC) respectively. Furthermore, a national shareholding model was introduced for 10 new resort developments, which will allow Maldivian citizens to receive dividend income in US dollars. ## Timeline ### 2026-09-07: Maldives President announces state company dissolutions and citizen resort shareholding Maldives President Mohamed Muizzu announced the dissolution of Fenaka and RDC to streamline state services and a new resort development model that allows all citizens to earn USD dividends as shareholders. 3 sources. https://clstr.news/cluster/maldives-president-announces-state-company-dissolutions-and-citizen-resort-shareholding ### 2026-08-30: Maldives President ratifies major legislative reforms Maldives President Mohamed Muizzu ratified major reforms regarding island allocation, transport, and foreign exchange, while Sri Lankan authorities repatriated 66 organized crime suspects. 9 sources. https://clstr.news/cluster/united-states-pledges-36-million-in-aid-to-nepal-after-deadly-glacier-burst --- Cite as: Maldives legislative and economic reforms. CLSTR, https://clstr.news/situations/maldives-legislative-and-economic-reforms