Economic Minister Mohamed Saeed accused that those who were behind what the ruling party describes as a financial coup deliberately attempted to disrupt the country's financial system.
Economic Minister Mohamed Saeed said connecting all the dots from recent events point towards a deliberate attempt by certain individuals to deliberately disrupt Maldives' financial system.
These comments were made in light of Bank of Maldives (BML)'s recent, but now reversed decision to severely restrict foreign transactions from debit and credit cards issued by the bank. With the key government officials including President Dr Mohamed Muizzu labelling the decision as an attempted financial coup, Maldives Police Service is now investigating the matter.
Ruling party People's National Congress (PNC)'s officials claim opposition party Maldivian Democratic Party (MDP) was behind BML's decision, and even questioned why former Finance Minister of MDP's administration held a press conference at the same time as BML's announcement of the dollar limitations.
However, it has not been confirmed whether any individuals have been questioned or arrested in connection to the accusations.
In a press conference held by PNC, Minister Saeed said that President Muizzu advised BML not to make any changes for the card limits that would affect students abroad as well as online businesses.
"[He's telling them] not to make such a decision. This is a very strong [decision], and one supported by the entire Cabinet. The president said we have to prioritise the interest of students and the public, [and so they] shouldn't do it," Saeed said.
He further said that a lot of things happened with BML's decision and accused MDP of spreading lies about the country's financial status at that time. He also accused some newspapers and some individuals on social media of trying to destroy the financial system.
"When all these dots are connected, these are the conclusions we're led to," he said. "I think those who are investigating the matter will likely make a statement about it."
Saeed also emphasized that banks should consult with the Maldives Monetary Authority (MMA) when making decisions, noting that the MMA was actively listening to and providing guidance to BML at the time.
Police said that they are working to gather all the information and study the details of the investigation into BML's decision. They are also the process of identifying any parties or individuals that should be charged, police said.
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