President Muizzu alleges ‘coup attempt’ after national bank suspends dollar transactions

Male, Aug 28 (Representative) Maldives President Mohamed Muizzu has described a decision made by the country’s national bank on Sunday to suspend dollar transactions from Rufiyaa accounts as a “direct coup attempt”. Speaking at a gathering of the ruling People’s National Congress (PNC) on Monday night, Muizzu said the Bank of Maldives’ (BML) decision was announced despite his direct orders against the decision, adhadhu reported. The President said an investigation would be launched into the decision to suspend dollar transactions against his advice. “What was done, anyone with common sense would know that all these dots are connected, what was done is, just as Shiyam [Minister Shiyam] also pointed out, it was an attempted coup, by whoever was behind it,” he said. The President said he would work with the full powers given by the Constitution to stop any attempt to change the government illegally.He accused the opposition of trying to bring a “coup” in connection to BML’s decision by following the example of what happened in some neighboring countries recently. The police on Monday night announced that a “serious investigation” had been launched into the alleged coup attempt. Muizzu assured that the government would not exert any influence on the investigation. “I will not hesitate to carry out the verdict after an independent investigation. That is justice,” he stated. President Muizzu said that he had worked to find a resolution for the Bank issue alongside his ministers as soon as he had become aware of the situation.

He said that many had raised questions as to why a government-majority holding bank had made such a decision against government advice. However, most people were unaware that BML’s Board of Directors does not have a government majority at this time, he said. The President said the BML board consists of four government members and the remaining five are not associated with the government. Meanwhile, the opposition Maldivian Democratic Party (MDP) has denied any involvement in the alleged coup attempt. The MDP said it will not resort to overthrowing a government by coup, and no one in the party will back down from holding the government accountable, even in the face of arrest threats, Fayyaz Ismail, MDP Chairperson, said today. His statement came as the Maldives Police Service launched an investigation into the Bank of Maldives’ (BML) recently reversed decision to impose a foreign transaction limit, which is alleged to have been orchestrated by political figures. President Muizzu has described the incident as a direct attempted coup, while speaking at a ruling People’s National Congress (PNC) party meeting. Some government officials allege that the main opposition party, MDP, was behind this coup and that they attempted it via BML.

They also question the timing of the press conference held by former Finance Minister Ibrahim Ameer, which was at the same time as BML’s announcement of the transaction limit. In response, Fayyaz Ismail, who served as the Economic Minister during the MDP administration in the last presidential term, addressed the media at an MDP press conference today. He asserted that the MDP is not a party that engages in coups, stating that the party does not take to the streets to overthrow the government, but rather to hold it accountable, edition.mv reported. “It is very lowly to claim that a coup is being attempted every time our Admiral Ameer (former Finance Minister Ibrahim Ameer) gives a press conference,” Fayyaz said. He went on to say that they would take to the streets to voice their concerns, and that it is their right as an opposition party. “We are realising that people are going to the point of starvation. The government still has the opportunity to right the wrongs and prevent that situation from happening. But we see President Muizzu trying to act in a thoughtless, stubborn and dictatorial manner,” Fayyaz accused. “We’re witnessing President Muizzu lose his footing and [on his way] to step down in the next few months. What we’re seeing is [signs] of a potential internal coup that may take place. And this is seen from the Parliament, from Tweets and also other means. [We] feel as such,” he said.