Former President Ibrahim Mohamed Solih has urged the government to ensure that public trust in the Bank of Maldives (BML) is not compromised. In a statement posted on X, Solih emphasized the critical role the bank plays in the livelihoods of many Maldivians, stating that maintaining public confidence in BML is essential for societal stability.
"Even the government should not do anything that may compromise trust in BML. If trust in the bank is lost, that is a huge loss to society at large," Solih said, stressing the need for careful oversight of the institution.
ބޭންކް އޮފް މޯލްޑިވްސްއަކީ ވަރަށް ގިނަ އާންމުންނާ ވިޔަފާރިވެރިންގެ ދިރިއުޅުމާ ގުޅިފައިވާ ތަނެކެވެ. އަބަދުވެސް އެންމެންގެ ފުރިހަމަ އިތުބާރު އޮންނަންޖެހޭ ތަނެކެވެ. ސަރުކާރުންވިޔަސް ބީއެމްއެލްއަށް އޮތް އިތުބާރު ގެެއްލޭފަދަ އެއްވެސް ކަމެއް ކޮށްގެން ނުވާނެއެވެ. ބީއެމްއެލްއަށް ކުރާ…
— Ibrahim Mohamed Solih (@ibusolih) September 18, 2024
His comments come in the wake of recent controversies surrounding the bank, which last month announced a plan to disallow foreign transactions on cards linked to Maldivian Rufiyaa accounts. The decision, which was quickly revoked, raised public concerns and was followed by allegations from President Dr. Mohamed Muizzu that the move was an attempt at a financial coup. The police are currently investigating these claims, though no suspects have been identified.
The turmoil at the bank has led to the resignation of BML's CEO, Karl Stumke, whose final day in office is scheduled for Saturday. In light of this, the government has nominated Ahmed Ali Habeeb, the Cabinet Secretary at the President's Office, for appointment as Chairperson of BML through the Privatization and Corporatization Board.
Solih’s call for caution highlights the broader implications of the situation for both businesses and individuals who rely on the stability and trustworthiness of the nation’s largest bank.
