Nasheed demands investigation into BML's deputy CEO

Parliament Speaker and former president Mohamed Nasheed stated that there were no grounds to halt the recently launched investigation into Bank of Maldives (BML)'s Deputy CEO Mohamed Shareef.

According to Nasheed, Shareef's alleged deceptions to the Parliament's Public Finance Committee became apparent following a review of the meeting minutes for the committee session.

On Monday, however, Nasheed had announced that he was considering the idea of pulling the police case lodged against Shareef since the latter addressed a letter to him promising to disclose details concerning certain cheques.

The parliament requested police to launch an investigation into Shareef following complaints submitted by the Public Finance Committee's chair and Kinbidhoo MP Mohamed Nashiz as well as several other members.

Following the announcement, Shareef conceded via a letter that he would offer full cooperation to the committee.

Local media Mihaaru previously reported that BML had completed transactions of 'non-negotiable' cheques into SOF accounts. The aforementioned cheques were signed over to SOF as the acquisition cost of islands leased for resort development by Maldives Marketing and Public Relations Corporation (MMPRC).

'Non-negotiable' cheques can only be transferred to the account mentioned on the check. BML has maintained that no such cheques were transferred to SOF.

Shareef also reiterated the stance during the Public Finance Committee session held last Tuesday.

During the session, Nasheed stated that crossed non-negotiable cheques could not be exchanged for cash as per the law. He reasoned that endorsing the cheque or transferring cash to any account excluding those of MMPRC constituted a criminal offence.

Furthermore, Maradhoo MP Ibrahim Shareef questioned whether "any cheques were crossed off" during the meeting.

In response, BML's Deputy CEO said, "I am telling you very truthfully how the bank has always adhered to processes and laws. Therefore, this is not something the bank did because MMPRC, with another party, had requested a certain procedure to be carried out".

However, Nasheed disclosed that he had acquired photographic evidence of cross cheques, proving that Shareef had misinformed the parliament committee.

"We should thoroughly investigate [Shareef's] case", Nasheed asserted.