Govt submits asset confiscation bill to parliament
The President said the bill seeks to establish a framework for confiscating assets acquired by people involved in criminal offences.
President Dr Mohamed Muizzu announced on Tuesday that the government has submitted a bill to Parliament to establish a legal framework for confiscating proceeds of crime and assets acquired through unlawful means.
The bill was submitted to the People’s Majlis on Tuesday, according to the President.
Details of the proposed legislation remain limited as the bill has not yet been published on Parliament’s website. However, President Muizzu outlined its main objectives in a post on X.
The President said the bill seeks to establish a framework for confiscating assets acquired by people involved in criminal offences and prevent them from continuing to benefit from such property.
According to Muizzu, the legislation is intended to prevent people involved in crime from retaining financial gains or assets obtained through criminal activity.
The bill also seeks to address legal barriers faced by the state when attempting to recover property obtained through criminal offences.
“Additionally, this bill will resolve current legal hurdles faced in reclaiming state assets unlawfully acquired by various parties through serious criminal offences,” President Muizzu said.
Further details, including the procedures for identifying, freezing and confiscating assets and the offences covered by the proposed legislation, are expected to become available once Parliament publishes the bill.
