Majlis Defeats No-Confidence Motion Against Economic Minister Mohamed Saeed
The People’s Majlis today decisively rejected an opposition-sponsored no-confidence motion against Minister of Economic Development and Trade Mohamed Saeed, with the ruling party deploying its comfortable legislative majority to defeat the bid to unseat him.
Out of the 93-member legislature, 66 parliamentarians were present for the sitting. With a statutory threshold of 47 votes required to carry the measure, only 10 lawmakers voted in favour of Saeed’s dismissal, while 54 voted against. Two members abstained, leaving the motion far short of passage.
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The motion was formally submitted on 1 August backed by 13 MPs from the main opposition Maldivian Democratic Party (MDP) and introduced on the chamber floor by Kendhoo MP Mauroof Zakir.
The opposition charged the minister with dereliction of constitutional responsibilities, evading legislative scrutiny, and fiscal mismanagement that had worsened an ongoing foreign exchange crunch and driven parallel market dollar rates above MVR 21.
MDP lawmakers further accused Saeed of mismanaging state funds on offshore investment forums during strained economic conditions and drew attention to MVR 6.56 million incurred through March of last year on the proposed Development Bank of Maldives while operational licensing and services remained delayed.
Granted a one-hour address by the Majlis General Purpose Committee to respond to the charges, Saeed strongly dismissed the opposition’s claims. While clarifying that primary legal authority over monetary and exchange rate policies rests with the Maldives Monetary Authority (MMA), he presented comparative data to show that foreign currency allocations have accelerated under President Dr Mohamed Muizzu.
Saeed stated that while the prior administration released USD 1.75 billion at the official pegged rate between 2021 and 17 November 2023, current authorities had distributed over USD 1.94 billion across a comparable timeframe.
“In 2024 alone, USD 483.53 million was disbursed at the official rate of MVR 15.42,” Saeed told lawmakers. “Looking then to 2025, USD 733.82 million was issued for commercial telegraphic transfers, students overseas, and outbound medical travellers. To date in 2026, USD 718.53 million has been released, bringing the total under this government to over USD 1.94 billion. This reflects an 80 per cent overall increase.”
The minister credited the allocations to regulatory interventions, specifically rules compelling tourist resorts to surrender a mandated percentage of gross foreign currency receipts through local commercial banks, a quota initially set at 20 per cent and subsequently elevated to 40 per cent. He argued these actions stabilized foreign reserves and shielded the country from sovereign default.
Responding to commodity inflation and cargo clearance delays, Saeed cited historic space constraints at the Malé Commercial Harbour, stating that the current government is actively upgrading port facilities after earlier administrations neglected the issue.
He added that the state has broadened its strategic food reserves to offset import disruptions driven by ongoing volatility in the Middle East.
During the debate, 38 minutes were allotted to the ruling People’s National Congress (PNC), which commands a parliamentary supermajority, while the sponsoring MDP received nine minutes.
Speaking during the debate, Inguraidhoo MP Ibrahim Falah defended the minister, asserting that not even a whisper of corruption has ever been linked to Saeed. Falah characterized the opposition’s no-confidence motion as a deliberate attempt to derail parliamentary proceedings and disrupt the government’s public service delivery, describing Saeed’s ministry as holding the government’s widest operational portfolio.
The outcome marks the second failed attempt by the opposition to remove a cabinet member this term, following the defeat of a similar motion against former Transport Minister Mohamed Ameen.
