Minister Ahmed Shiyam inaugurates the National Register of Fishermen and Loan Scheme programme for the Reef Fishery.

In alignment with President Dr. Mohamed Muizzu’s 100-day “Hafuthaa 14” roadmap, a significant milestone was reached with the inauguration of the National Registry of Fishermen and unveiling financing options for reef fishers and small iceplants in Sh. Komandoo on the 16th of February 2024. The ceremony was inaugurated by the Minister of Fisheries and Ocean Resources, His Excellency Ahmed Shiyam, and was attended by SME Development and Finance Corporation (SDFC)’s Managing Director, Ms, Aishath Fifsheen Ali, Vice President of the Komandoo Island Counil, Mr. Adam Abdulla, heads of institutions of Komandoo, fishermen of the atoll, and senior officials of other government agencies.

The National Registry of Fishermen is an important step towards recognising the status of fishing as a legitimate profession in the Maldives, thus removing barriers that hinder fishermen from having access to crucial financial resources. The fishermen across the nation now have the opportunity to register on the online platform and marks the first ever national level registry for fishermen in the Maldives.

During his address in the ceremony, Minister Ahmed Shiyam emphasized that there are many issues that are related to the lack of a registry, and he hoped that the completion of the fishermen’s registry would provide a comprehensive solution to many of the problems faced by the fishermen. The Minister also highlighted the significance of compiling detailed information about the fishermen operating in the Maldives and ensuring their formal recognition at the state level.

Providing financial assistance to further develop small and medium businesses in reef fisheries is an important activity in the “Hafuthaa 14” roadmap. Loans for the establishment and development of fish production facilities and small ice plants for reef fishermen will be provided to SMEs. These loans, in collaboration with SDFC, are available at a five percent interest rate over a ten-year period. The opportunity to apply online for the loan will be opened this week.

SDFC Managing Director Ms. Aishath Fifsheen Ali stated that the design and introduction of new products are tailored to address the challenges faced by the businesses involved in reef fishery and to facilitate sector expansion.