The Bank of Maldives has provided relevant documents and communications at the request of the Maldives Police Service, which is investigating allegations of a financial coup orchestrated by the bank's Board of Directors. These accusations stem from the Board's decision on August 25, 2024, to impose limits on the use of credit and debit cards issued by the bank, a measure taken in response to issues with foreign currency.

However, this decision was quickly reversed on the same day after intervention from the Central Bank of the Maldives and the Maldives Monetary Authority. Following this incident, the government, including President Dr. Muizzu, accused the bank's Board of Directors of attempting a financial coup, allegedly influenced by opposition factions. In response, the police announced the initiation of an investigation into what they suspect may be an effort to undermine the government through a formal coup.

This situation has raised significant concerns regarding the integrity of the bank's operations and the broader implications for the financial system in the Maldives. It highlights the critical need for transparency and accountability within financial institutions, especially during times of political tension. The ongoing investigation will likely reveal more about the motivations behind the Board's initial decision and the subsequent allegations of wrongdoing.