FIFA has arranged a consultancy firm to act as financial advisors to the Football Association of Maldives (FAM).
FIFA has arranged a consultancy firm to act as financial advisors to the Football Association of Maldives (FAM).
The firm has even previously offered advice in financial matters, as well as on FIFA projects to FAM, Mihaaru News reports.
Currently FAM is being managed by a Normalization Committee formed via FIFA, whose main target is to resolve the financial issues within the association, and to make efforts to recover lost funds.
While FAM has multiple debts owed to various entities, the Normalization Committee has earlier announced that there were no funds in the association's bank accounts when they had taken over management.
A FIFA delegation, including accountants and auditors, recently visited the Maldives, where they worked to compile a roadmap for the repayment of the association's pending debts.
The delegation also met with Minister of Sports, Fitness and Recreation Abdulla Rafiu.
FAM's financial woes are the result of alleged financial misappropriation by some amongst the association's former leadership. At present, former FAM President Bassam Adeel Jaleel is facing charges of corruption and money laundering.
The biggest challenges in fund recovery faced by the Normalization Committee is due to the lack of available documentation. Police have earlier raided two of FAM's offices and seized some documents in their investigation into corruption. The Normalization Committee has now requested Police to share relevant documents from these.
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