No Suspects Interrogated in Alleged Financial Coup via BML, Says Police

The Maldives Police Service has confirmed that no individuals have yet been questioned regarding an alleged financial coup attempt involving the Bank of Maldives (BML).

The case stems from BML’s decision last month to temporarily suspend foreign transactions on its credit and debit cards. The government has since alleged that the move was part of a politically motivated attempt to destabilise the country’s financial system.

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During a press conference yesterday, Chief Superintendent of Police Hassan Shifau stated that the investigation remains in its early stages. 

Earlier, the police had issued a statement noting that certain political figures held a press conference around the same time as BML’s announcement. The statement also claimed that bot accounts were used to incite the public to protest and overthrow the government. This, combined with BML’s defiance of government directives, prompted an investigation into what authorities deemed an attempted coup.

BML’s decision to halt foreign transactions, specifically for cards linked to Maldivian Rufiyaa accounts, triggered widespread public discontent. In response to government intervention, the bank swiftly reversed its decision within hours, following a series of high-level meetings.

While government officials have voiced various concerns, President Dr Mohamed Muizzu characterised the incident as a political coup attempt, pledging that those responsible would face consequences.