Crown & Champa Resorts begins paying staff salaries in dollars
The company’s board has now decided to implement dollar-denominated salary payments across all its resorts from this month.
Top Stories
-
MIRA collects MVR 2.8B in Oct, exceeding forecast by 12.9%
-
MIRA responds to governor: Tax audits follow risk-based approach
-
Unpaid bills reach MVR 7B, Auditor General tells parliament
-
Governor says majority of tourism dollars remain outside banks
-
Govt targets MVR 2.8B from land sales, transfer fees by 2029
Crown & Champa Resorts has begun paying employee salaries in US dollars, according to information obtained by Daur.
With the change in central bank's rules requiring resort companies to exchange a significant portion of their foreign exchange earning to Rufiyaa, the group’s resorts paid salaries in Maldivian rufiyaa, while service charges were paid in dollars. Sources said that some resorts under the group started paying salaries in dollars about two months ago.
The company’s board has now decided to implement dollar-denominated salary payments across all its resorts from this month.
Crown & Champa Resorts operates 11 resorts in the Maldives.
Related
Related
Govt establishes company to distribute resort profits to citizens
Parliament accepts bill to reverse 17% GST on travel agents
Govt reduces tourism island lease acquisition costs in 6 atolls
