Bank of Maldives (BML) CEO Karl Stumke has officially resigned in the midst of ongoing investigations into a controversial decision that has been described as an attempted financial coup. The Bank of Maldives (BML) is facing scrutiny from the Maldives Police Service due to concerns over its decision-making processes, which some have interpreted as politically motivated.

In response to these developments, BML has expressed its commitment to cooperate fully with the investigation by supplying all requested documents to the authorities. 

Today, BML announced Karl Stumke's resignation, indicating that he will remain available until the Extraordinary General Meeting scheduled for September 21, 2024, during which new members from the government will be appointed to the BML board. His resignation follows mounting pressure from cabinet ministers who called for his departure during recent political gatherings at the PNC headquarters in Male'. 

This situation highlights the growing tensions surrounding the bank's governance and raises significant concerns about accountability within the financial sector in the Maldives.