Bank of Maldives (BML) issued a statement on late Tuesday, claiming its Deputy Chief Executive Officer Mohamed Shareef had provided accurate information to the Parliament, based upon the available bank records pertaining to Maldives Marketing and Public Relations Corporation (MMPRC) and SOF Pvt Ltd.
The case submitted to Maldives Police Service against Shareef alleged that he had provided false information to the Parliament during his summons to the Committee on Public Finance over accusations that the bank was complicit in the MMPRC graft scandal. Once Shareef attested he would clarify certain statements, it was decided that the case would be withdrawn.
However, shortly afterward, former President and Speaker of Parliament Mohamed Nasheed indicated against the decision on Tuesday's Parliamentary session.
Stating that there were no grounds to cease the recently launched investigation into the Deputy CEO, Nasheed added that Shareef's alleged deceptions became apparent following a review of the meeting minutes for the committee session.
Investigative institutions have affirmed 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.
Respnding to Nasheed's comments following the parliamentary session, BML stated that the information given to the Public Finance Committee were per the available bank records, further revealing that a bank internal audit was conducted to investigate into MMPRC's cheques deposited into SOF accounts.
According to BML, cheques transferred from other banks into BML accounts and cheque images were not recorded until cheque imaging and transaction process was introduced in 2016.
Moreover, BML stated that cheques must be cleared by the second-party bank from which the cheque is issued, before being deposited.
As such, BML identified that the records would be kept by the second-party bank, and declared that it has requested the other relevant banks for the copies of the cheques relating to the ongoing case.
BML revealed that they have begun further reviewing the transactions as deposited cheques from other banks endorsing SOF accounts have come to light since providing information to the Public Finance Committee.
The bank stated that they did not mention any bounced cheques in their letter to the Committee.
BML maintains that it provided a vast array of information to relevant investigative authorities over the MMPRC graft scandal.
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