Read on Twitter
Thread on granting residency to foreigners (what I believe is actually happening) 
The need for foreign residency arose, not because of humanity towards a foreigner married to a Maldivian nor as a political favor to India or the West. It arose with large powerful...
The need for foreign residency arose, not because of humanity towards a foreigner married to a Maldivian nor as a political favor to India or the West. It arose with large powerful...
... Companies taking huge loans and investing in real estate, mostly in Hulhumalé. The total sale value of all of these luxury apartments amount to more than 4 times the total amount designated for housing loans by most of the financial institutions of the country combined...
As it is, those companies that depend on the sale of these apartments to pay their hefty loans depend on the ability of the financial institutions to grant loans to buyers, so they won’t default. Here is where the need for wealthy foreigners with wealthy bank backing arise...
... So, to prevent what happened in the Great Depression after the construction and real estate boom, this seems a viable tactic. Foreshadowing of this domino effect was not realized or was intentionally neglected when permits were given to these housing in the first place...
... The pros and cons of this decision are numerous and far reaching, which you will undoubtedly voice out as replies to this thread. This is what I feel is happening, so have at it tweeps come at me...
The Govt is taking the “humdhardhee” towards the expat approach to push for this change while the opposition is taking the “Islam dheena Qaumee isthigLOL” approach to oppose it, also the Govt is trying to portray this as a cool, “move away from bureaucracy” type of change...
