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BML files case against Asset Recovery Commission

Nafaahath Ibrahim
18 July 2019, MVT 14:10
Head Office of Bank of Maldives (BML) in the capital city of Maldives. PHOTO: BANK OF MALDIVES
Nafaahath Ibrahim
18 July 2019, MVT 14:10

Bank of Maldives Ltd (BML) files case against the Presidential Commission on Corruption and Asset Recovery.

Although the charges filed by BML at the Civil Court are not clear, the Commission was summoned to Court over the case.

The Asset Recovery Commission had requested information of two bank accounts in 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.

At the same Committee, BML claimed that they were complying with all the investigative bodies as stated in the Banking Act. They also stated that they were working to find a legal solution to protect the interests of all those involved.

The questions were posed to BML in relation to the investigation of the infamous Maldives Marketing and Public Relations Corporation (MMPRC) corruption scandal. BML denies claims of negligence and maintains that everything they did was in line with the regulations.