2 Bangladeshis detained over illegal foreign currency trading

Two Bangladeshi nationals suspected of trading foreign currency at inflated rates without authorisation have been taken into the custody of Maldives Immigration.

Police said on Monday that the two were handed over to Immigration following a joint operation based on information received through a hotline established to report people suspected of conducting unauthorised foreign currency transactions in the Maldives.

The two men were identified as MD Masood Ahmed and Abu Tahir.

Masood was detained last Friday, while Tahir was detained on Monday.

Police said the investigation was continuing and that further action against the two men would be determined based on information and findings obtained during the investigation.

The Maldives Monetary Authority (MMA) requires individuals and businesses engaged in foreign currency trading to hold a licence issued by the central bank.

Police have asked the public to share information about individuals or businesses selling foreign currency without an MMA licence with the task force established to investigate such activities.

According to information previously released by police, most reports received through the task force hotline have concerned foreign nationals suspected of engaging in unauthorised foreign currency trading.

Authorities have previously taken another foreign national into Immigration custody based on information received through the hotline.