President Muizzu announces Asset Recovery Bill to tackle past corruption cases

President Dr. Mohamed Muizzu announced yesterday that his government will introduce an asset recovery law aimed at investigating corruption cases carried out under previous administrations.

Speaking during a visit to Th. Thimarafushi, the final stop on his tour of four atolls, the President said the bill will be submitted when Parliament reconvenes next month. The legislation is intended to facilitate the recovery of state assets and funds lost through corruption and misappropriation over the years.

“The purpose of this bill is to uncover and address the theft and corruption that took place under various administrations,” President Muizzu said, noting that tackling corruption is central to his government’s broader development agenda.

The President emphasised that meaningful reform must begin from within the government and the state itself. He reiterated his commitment to eradicating corruption and highlighted digitisation as a key step in minimising opportunities for malpractice.

“We currently have a system where nothing is recovered from those convicted or accused of corruption,” he said. “But the day this bill is passed by Parliament, it will be ratified immediately. From the moment it becomes law, state institutions will begin pursuing those responsible for these serious financial crimes.”

President Muizzu made it clear that there will be no leniency for individuals who have taken public funds.

“It is not my right to protect those hiding the people’s money,” he said. “It is my responsibility, under the oath I have taken, to ensure those funds are recovered. If millions or billions of rufiyaa are in the hands of someone unlawfully, this law will be instrumental in recovering those assets.”

Citing the latest audit report released by Auditor General Hussain Niyazi last night, the President referenced allegations of large-scale embezzlement at Fenaka Corporation during the previous MDP administration.

He stated that, in light of these findings, he has directed the Maldives Police Service, the Anti-Corruption Commission (ACC), and the Prosecutor General’s Office to expedite investigations.

“This is public money,” he said. “The company is drowning in debt, and if this kind of behaviour continues, it will be destroyed.”

The President stressed that anti-corruption efforts would be impartial, with no regard for political affiliations or status.

“I believe justice means acting without favour. I will not use politics as a tool in this. Whoever is responsible must be held accountable,” he said.

President Muizzu also reaffirmed his commitment to upholding the independence of the judiciary and oversight institutions, even as past corruption cases are brought to light.

“I have never interfered with any court or judge, never asked anyone to speed up a case, delay it, or decide it in any particular way,” he said. “No one has done so on my behalf, either. That is not something I will ever do.”