Police close probe into BML ‘financial coup’ case
President Mohamed Muizzu had also publicly stated that those responsible would face legal action.
The Maldives Police Service has closed its investigation into allegations of an attempted “financial coup” allegedly involving Bank of Maldives and the Maldivian Democratic Party.
The case stemmed from a decision by BML on August 25, 2024, to suspend foreign transaction allowances for debit and credit cards linked to Maldivian rufiyaa accounts.
The bank announced the decision in the morning but reversed it later the same day following intervention by the Maldives Monetary Authority, which provided assurances regarding foreign currency support.
At the time, the government and police alleged that the move was part of a coordinated effort involving the opposition MDP to destabilise the economy.
President Mohamed Muizzu had also publicly stated that those responsible would face legal action.
However, according to a response issued under the Right to Information Act following a request submitted by a private citizen last month, police stated that the case had been concluded.
In a response dated October 8, police said:
“According to our records, following an inquiry into the allegations surrounding BML's 2024 decision, it was determined that there were no grounds to proceed with a criminal investigation. Consequently, the matter has been concluded and filed.”
The police have not yet clarified the exact date on which the case was formally closed.
