The MMA cancelled the license of Express Money Exchange, citing violations of money changing business regulations uncovered during supervision. No further details were disclosed. The company was registered in 2024 by Ahmed Shinaz and Amjad Ismail. Its money changing license was last issued in April. The move comes a day after ruling party lawmakers approved penalties for selling foreign currency above the central bank's rate.
Yazmeedh Mohamed was appointed CEO of the Pension Office, despite coming third in the interviews for the post, Adhadhu reported. Sources told it that Ahmed Zuhoor, a former minister, customs commissioner general and STELCO managing director, scored first, and that the board appointed Yazmeedh under pressure from the President's Office. Yazmeedh, who stood for parliament on a PNC ticket, is the first person appointed to the post without fund management or significant financial sector experience. He was previously President's Muizzu's representative on the JSC, where sources told Adhadhu he had phoned judges asking them to act in particular ways because of instructions "from above". He resigned from the judicial watchdog on 18 May and takes up the pension post on Sunday for a five-year term.
A petition to abolish MPs' health insurance reached 5,506 signatures, well above the 2,100 needed to compel a floor debate. Each member currently gets a plan worth more than MVR1 million (US$64,850) a year, covering their spouse and children under 18 for treatment in the Maldives, SAARC and ASEAN countries. Former members are entitled to the same cover. The petition, started by Midhuam Saud on 12 August, calls for repealing those provisions so MPs receive only the national health insurance available to everyone else. A vote on accepting the petition will be taken after the debate. If accepted, it will go to a committee, which will decide a response and return it to the floor.
The Prosecutor General's Office withdrew charges against Adam Adlan Latheef, 22, who was arrested in April on suspicion of buying and selling child sexual abuse material via cryptocurrency. He had been charged in May with production of obscene material and possession of child sexual abuse material on a computer system, which carries a base sentence of three years and two months and a maximum of eight years. It is unclear why the PG office declined to prosecute.
The nisab threshold for zakat al-mal fell to MVR19,266.10, calculated on 595 grams of silver at 32.38 laari a gram. It was last set at MVR21,836.50 on 21 April. Zakat is payable at 2.5 per cent on holdings that have been at or above the nisab for a lunar year.
The High Court overturned the acquittal of an Islam teacher accused of sexually abusing a seventh grade pupil. Ahmed Shareef was sentenced to 15 years in prison.
