The Bank of Maldives (BML) stated today that loans for government projects are being issued in accordance with laws and regulations, and that the untrue rumors being spread about the bank are being disseminated to achieve a political objective.
BML spokesperson Mohamed Saeed said today that the rumors being spread, that the bank is providing financing to contractors of government projects signed with some private Maldivian companies in violation of the Banking Act, are baseless and not founded on accurate information.
The bank disclosed that loans are currently being, and will continue to be, issued in accordance with the bank’s credit policies, which are formulated in line with the Banking Act and regulations of the Maldives, as well as international standards. BML noted that these decisions are made independently by the bank’s board.
BML described the act of providing false information to mislead the bank’s customers and shareholders for the purpose of achieving a political objective as irresponsible. The bank also appealed for such actions not to be repeated.
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