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Tag "bank of maldives"

Government borrows US$52m for ‘short-term financing’

The loan was taken from the Bank of Maldives on March 28 to settle unpaid bills and “manage cash flow,” according to information shared by the finance ministry with parliament’s public accounts committee.

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Yet another policy reversal puts affordable housing out of reach for Malé residents

When Malé’s landless families drew lots to choose flats in the newly built Tata blocks in October, the keys to their new homes seemed all but assured. But yet another policy reversal appears to have put the flats out of reach.

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SOF leaks whistleblower given eight months in jail

Gasim Abdul Kareem’s counsel have called for his immediate release, noting that he has already spent a period longer than his eight month prison sentence in state custody.

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Whistleblower protection urged for bank employee detained over MMPRC leak

Lawyers representing a senior bank official, detained for leaking documents related to the Maldives’ biggest ever corruption scandal, are seeking his release under laws that offer protection for whistleblowers.

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National bank slashes interest rates on some loans

The Bank of Maldives has announced plans to slash interest rates on housing and personal loans and has launched a new loan scheme to encourage investment in green technologies.

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Bank staff arrested over leak of transactions by company in MMPRC scandal

A senior national bank staff was arrested Thursday on a charge of leaking details of financial transactions by a company involved in the Maldives’ biggest corruption scandal.

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Court ruling barring bank limits on cash withdrawal is “risky,” says ex economic minister

A High Court verdict barring banks from imposing limits on the amount of money customers can withdraw from their accounts is a “risky move” that could send “send shocks throughout the banking system,” former Economic Minister Mahmood Raazee has said.

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