Umrah companies required to have own bank accounts

Ministry of Islamic Affairs has revealed companies are now required to have their own bank accounts to deposit payments to fund Umrah pilgrimages.
The requirement is part of the new policy established by the ministry for companies to uphold the rights of Umrah pilgrims. The new policy seeks to prevent cases of Umrah companies from misusing the payments made by pilgrims. It states the special bank account should only be opened by registered companies under their name, and should only be used for depositing payments made by pilgrims and to make financial transactions between the company and pilgrims. The companies are also required to provide receipts to the pilgrims who deposit their payments.
Furthermore, the ministry is required to establish a registry for licensed Umrah companies and update it daily. The policy also requires Umrah companies to sign agreements with pilgrims that detail the price and provide details on the trip and the services the company will be providing. It also states companies should notify the ministry 20 days before the pilgrimage, and provide details of the pilgrims and the travel expenses five days before the trip.
Additionally, only companies with 100% Maldivian ownership will be approved for organising pilgrimages for a two-year period.
Companies that do not adhere to the new policy will be fined or have their license revoked. In addition, issues concerning criminal cases will be submitted to the Maldives Police Service (MPS) while civil cases will be submitted to the Attorney General's Office.
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