It has been revealed that there is no connection between the report allegedly prepared by the Financial Intelligence Unit (FIU) of the central bank, Maldives Monetary Authority (MMA), regarding some transactions conducted to unfairly benefit companies in which Ibrahim Shujau, Member of Parliament for Baarah Constituency, has shares, and the transfer of the former head of FIU, Abdullah Ashraf, to another position. Abdullah Ashraf, the former head of FIU, has been transferred to the position of Head of Risk and Compliance Department at MMA.
The MMA decided to appoint Ismail Sajid as the head of the Financial Intelligence Unit (FIU) on July 31. He was appointed to the position effective from tomorrow. This is a change that MMA had previously decided to implement, while the report became public on social media on August 2. According to MMA, this change was made as part of the structural changes being implemented to further strengthen MMA’s operations.
MMA has also welcomed the government’s policies to reduce state expenditure. The authority is also making changes to strengthen its internal structure and operations. With these changes, the work of MMA’s Financial Intelligence Unit will be further strengthened, leading to additional progress in the efforts against financial crimes. The FIU is a unit within MMA responsible for monitoring financial transactions under the Anti-Money Laundering and Countering the Financing of Terrorism Act. The power to appoint and dismiss the head of this unit lies with the Governor of MMA.
