President Dr. Mohamed Muizzu has disclosed plans for the introduction of an e-wallet service scheduled by May 2024.

President Dr. Mohamed Muizzu reiterated his electoral pledge to introduce e-wallet services during the "Raeesge Javaab" session on Thursday.

In response to a query from Abdulla Inan regarding the launch date of the e-wallet, President Muizzu revealed that preparations for the implementation of the e-wallet service are currently underway.

He expressed optimism about meeting the target launch date no later than May.

The government aims to introduce e-wallets as part of its efforts to bring innovative financial services to the Maldives.

This new service will enable individuals to conduct monetary transactions using platforms similar to PayPal.

Minister of Homeland Security and Technology, Ali Ihusaan, had previously emphasized the President's commitment to introducing e-wallets, facilitating services for foreign parties, and ensuring accessibility to the public.

The decision to introduce e-wallet services aligns with the government's strategy to access e-commerce platforms, including PayPal, thereby enhancing financial accessibility and convenience for the people.