BML CEO denies claims of dollar liquidity shortage
Shareef said information circulating about dollar shortages, delays in telegraphic transfers and concerns over the bank’s Net Open Position is not accurate.
Chief Executive Officer of Bank of Maldives, Mohamed Shareef, on Wednesday rejected claims that the bank is facing a shortage of US dollar liquidity.
He made the remarks at a ceremony held to mark the expansion of the bank’s ATM network and the opening of six new branches.
Shareef said information circulating about dollar shortages, delays in telegraphic transfers and concerns over the bank’s Net Open Position is not accurate.
He stated that the bank’s Net Open Position remains within its required level.
Shareef also said that reserves held at the Maldives Monetary Authority and funds in the bank’s Nostro accounts are sufficient.
He confirmed that telegraphic transfers are being processed and that no transactions have been withheld.
The bank launched 70 US dollar ATMs, and dollar withdrawal services will be available through these machines.
Shareef said the spread of such claims could affect the bank and the wider economy.
He also denied reports that the Maldives has been suspended from the SWIFT network, which is used by banks for international transactions.
