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A BML branch. (File Photo/BML)

Police get BML documents over card removal 'financial coup'

BML rescinded the decision to remove foreign transactions for bank cards on the orders of the central bank, Maldives Monetary Authority.

2 September 2024

Police have questioned the Bank of Maldives (BML) and obtained documents to clarify the allegations of a coup attempt by the opposition following the national bank's decision to temporarily 

BML announced on August 25 that it would not allow foreign transactions via their Rufiyaa accounts. The decision sparked public outrage and criticism of the government and the bank, and BML rescinded the decision that evening on the orders of the central bank, Maldives Monetary Authority.

Police on August 26 began investigating the alleged attempt of a coup following the BML's decision. Senior government officials, including President Mohamed Muizzu, described the day as a "financial coup" against the government.

Regarding the investigation, various reliable sources confirmed to Atoll Times that the police sent a letter to BML requesting the necessary information.

In response to the letter, the sources confirmed that the bank had shared a number of documents with the police.

Police did not name anyone in the case, but said the opposition was holding a press conference to coincide with the decision and giving bad information to the people.

  • Some government ministers have accused BML of taking the decision with the participation of the opposition

  • The opposition MDP held a press conference to discuss the government's financial situation

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