Former President Ibrahim Mohamed Solih has emphasized the need to maintain the credibility of the Bank of Maldives (BML) amid ongoing tensions between the bank and the government.
His remarks come in response to a recent controversy surrounding BML's operations.
The conflict began on August 25, when BML announced a ban on MVR accounts conducting dollar transactions. However, the bank quickly reversed this decision later that day due to mounting pressure from various stakeholders. The government subsequently accused BML of acting contrary to its directives and described the bank's actions as an attempt to stage a financial coup.
The opposition Maldivian Democratic Party (MDP) has criticized the government’s approach, calling for a reassessment of its stance on BML.
Solih stressed the importance of public confidence in BML, warning of significant repercussions if trust in the bank diminishes. He called on the government to refrain from actions that could further undermine public confidence in the financial institution.
As the situation continues to evolve, the future of BML and its relationship with the government remains a critical concern for many citizens in the Maldives.
His remarks come in response to a recent controversy surrounding BML's operations.
The conflict began on August 25, when BML announced a ban on MVR accounts conducting dollar transactions. However, the bank quickly reversed this decision later that day due to mounting pressure from various stakeholders. The government subsequently accused BML of acting contrary to its directives and described the bank's actions as an attempt to stage a financial coup.
The opposition Maldivian Democratic Party (MDP) has criticized the government’s approach, calling for a reassessment of its stance on BML.
Solih stressed the importance of public confidence in BML, warning of significant repercussions if trust in the bank diminishes. He called on the government to refrain from actions that could further undermine public confidence in the financial institution.
As the situation continues to evolve, the future of BML and its relationship with the government remains a critical concern for many citizens in the Maldives.
