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Final chance to claim deposits from BCCI: MMA

Fathmath Shaahunaz
08 January 2019, MVT 12:53
Aerial view of Maldives Monetary Authority (MMA). PHOTO/MIHAARU
Fathmath Shaahunaz
08 January 2019, MVT 12:53

Maldives Monetary Authority (MMA) on Tuesday announced the final deadline for the public to withdraw any deposits made to the now-defunct Bank of Credit and Commerce International (BCCI) branch in capital Male'.

In a notice, the central bank revealed the details over 2,000 individuals who are still yet to claim their deposits from BCCI's Maldivian branch, despite MMA's repeated orders since the year 1995.

MMA declared that the final deadline to withdraw deposits is the end of March 2019, warning that the authority will not issue any amounts deposited at BCCI afterwards.

The Maldivian branch of BCCI went bankrupt and closed down in July 1991, after which MMA assumed responsibility over the bank's depositors and creditors in 1995.

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