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A fund to help shark fishermen find alternative livelihoods was launched by the Ministry of Fisheries and Agriculture on World Ocean’s Day, 8 June. A total ban on shark fishing and export of shark products from Maldives comes into effect on 1 July. The fund is expected to facilitate alternative livelihoods for the 200-odd shark fishermen and middlemen involved in the industry. The need to declare a total ban arose following a report from the Marine Research Center (MRC), which noted that the number of reef sharks sighted by divers had declined in recent years and that shark stocks were vulnerable to exploitation due to their slow growth, late maturity and low fecundity. 
The ministry plans to raise money to fund the ban through NGOs and the tourism sector. A study carried out in 1992 revealed that tourists paid a total of US$ 2.3 million for shark watching dives, while in the same year export of shark products earned a revenue of US$0.7 million.

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