3.8 million in cereal packets

Six Bangladeshi nationals have been taken into custody after authorities intercepted them at Velana International Airport while they were preparing to depart for Bangladesh, with foreign currency worth approximately MVR 3.86 million seized from them.

The Maldives Police Service said the operation was conducted on September 18, 2026, based on intelligence received by the specialised task force established to identify and take legal action against individuals involved in unauthorised foreign currency exchange.

Police said the six individuals were intercepted at the airport while attempting to leave the Maldives. A significant quantity of foreign currency was subsequently seized and taken into custody as part of the investigation.

The confiscated money consisted of currencies from 18 different countries. The seizure included USD 174,161, EUR 56,760 and GBP 1,815, with the combined value estimated at MVR 3,861,415.29.

The six Bangladeshi nationals remain in custody while police conduct further investigations into the source of the money and its suspected connection to illegal foreign currency exchange.

The operation is part of a wider government crackdown on unauthorised foreign currency trading, particularly black-market US dollar transactions. Police established a dedicated task force and hotline earlier this month to receive information about individuals and businesses conducting foreign exchange without a licence from the Maldives Monetary Authority (MMA).

The crackdown has already resulted in several arrests and investigations involving foreign nationals. On September 14, police and Maldives Immigration detained two Bangladeshi nationals accused of conducting unauthorised foreign exchange transactions at inflated rates.

Homeland Security, Labour and Technology Minister Ali Ihusaan said on September 14 that authorities were investigating 12 expatriates over suspected involvement in unlicensed dollar trading, with nine in detention at that time. He also said authorities had identified cases in which foreign nationals were allegedly operating illegal currency-exchange activities through businesses registered under Maldivian names.

The enforcement drive follows the implementation of amendments to the Foreign Currency Act on September 1. Under the amended law, foreign currency may only be bought and sold at rates or within bands determined by the MMA, while foreign currency exchange businesses must operate under an MMA-issued licence. Selling, attempting to sell or advertising foreign currency above the rate or band determined by the MMA is also a criminal offence under the amended legislation.

The MMA has separately warned individuals and businesses against conducting foreign exchange transactions with unlicensed dealers, stressing that unauthorised foreign currency transactions are prohibited under Maldivian law.

Police have said investigations into the latest airport seizure are ongoing, and further action will be taken based on the evidence gathered.