President instructs loan for content creators to be opened in two weeks

President Dr. Mohamed Muizzu has mandated that soft loans for social media content creators be made available within the next fortnight.

The President made the announcement on Sunday amid concerns from a number of people that the current media bill in the ruling PNC-led parliament would also crack down on opinion expressed on social media.

In a post on X, the President said the technical work required to launch a soft loan scheme for content creators in Maldives is nearing completion.

The aim of this loan program is to enhance the contribution of the creative economy and create opportunities for Maldivian youth to engage in the sector, he said.

“This encompasses various areas such as media content, audio, video, image production, entertainment, sales, and marketing. I have instructed designing and launching the scheme within the next two weeks,” he said.

There has been a huge increase in the use of social media by people of all ages in Maldives. These include those who are active on YouTube, TikTok, Instagram and Facebook.

Journalists have been expressing their dissatisfaction with the bill since it was introduced in parliament. The journalists raised concerns about the bill giving the President the power to appoint members to the regulatory commission and allowing individual journalists to be penalized for any issues with the news they report.

After media protests, the government has decided to propose some amendments. However, many people are still concerned that the bill's definition of media includes the power to regulate social media as well.

The bill, which has been supported by many pro-government members, does not seek to regulate social media, PNC Parliamentary Group Leader and Inguraidhoo Constituency MP Ibrahim Falah said.