The Bank of Maldives (BML) has officially denied rumors suggesting that the institution procures foreign currency through the black market. The bank’s spokesperson, Mohamed Saeed, clarified that BML’s operations consistently align with the regulatory frameworks established by the central bank.
During the first quarter of this year, the bank facilitated the sale of $226 million to both businesses and individuals. Notably, the allocation of funds for the importation of essential goods has seen a substantial increase compared to the previous year. Emphasizing the bank’s robust financial stability, Saeed dismissed claims that the bank’s dollar reserves have been depleted, labeling such reports as baseless. He further reaffirmed BML’s unwavering commitment to serving the public with the utmost transparency and integrity.
