Following a statement by Bank of Ceylon’s manager accusing Maldivians as “untrustworthy”، MP for Villufushi electorate and Progressive Party of Maldives (PPM)’s Parliamentary Group’s deputy leader Riyaz Rasheed has stated that the Bank of Ceylon needs to be shut down.
While speaking at today’s sitting of the Parliament، Riyaz stated that a manager cannot make those statements and there is no reason to those who make such statements to conduct banking in Maldives.
“Banks from abroad are brought to Maldives to provide loans to Maldivians. To strengthen Maldivian economy. But، look at the results? Today، banks like HSBC provide services only to the elites. This is a concerning issue. When I went to Bank of Ceylon، they said we (Bank of Ceylon) don’t trust Maldivians. Shouldn’t we shut down Bank of Ceylon? That statement cannot be made by a manager. What is the reason for conducting banking in Maldives?”
Riyaz stated that legal actions should be written down against such people in the legislation  and the economic committee should reflect about such issues.
Riyaz further said that in a time where the “reserve” of Maldives has been increased، the interest rate should be decreased.
Pointing towards the loan system in Maldives، Riyaz stated that when a person fails to pay the loan on time even once، the actions against the person should not be to a level that will deteriorate the whole life of the individual.