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Not culpable over data disclosure: BML

Ahmed Aiham
08 August 2019, MVT 12:13
Bank of Maldives (BML)'s Islamic branch in Male City. PHOTO: BANK OF MALDIVES
Ahmed Aiham
08 August 2019, MVT 12:13

Bank of Maldives (BML), on Wednesday, stated that no charges can be filed against the bank for information it divulges to investigative authorities.

The Civil Court moved against BML's request to rule that the bank was not under any obligation to provide information to investigative bodies unless a court order was presented.

According to the court, information must be disclosed to investigative authorities through a written request, with or without a court order.

The court also rejected the bank's request to issue a temporary order halting disciplinary action against its employees over noncompliance with providing information until the conclusion of the ongoing case.

Anti Corruption Commission (ACC) has withdrawn from the matter.

During previous cases, BML readily provided information to investigative bodies. However, in accordance with a recent ruling by the High Court, BML has expressed difficulties in revealing information without being presented a court order.

The commission had requested information of two bank accounts opened under BML in relation to an investigation. However, following the High Court's verdict on July 7, the bank has not issued information since, as per the Commission.

According to the statement given during a Committee gathering, the Commission revealed that prior to the court's verdict, BML was complying with all the requests for information.

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