Bank of Ceylon has identified and announced 384 accounts which have had no activity for the past 5 years, to be closed and all remaining funds transferred to Maldives Monetary Authority (MMA) unless activated. The list of accounts has been made public on the Government Gazette, and includes 147 MRF accounts and 237 USD accounts.
According to Maldives Banking Act 2010/24 Section 35, any account that has had no activity for 5 consecutive years without informing the bank via a written document would be marked as dormant and would be closed with all remaining funds in the accounts transferred to MMA upon closure.
Bank of Ceylon has requested for all account holders mentioned in the list to send a written statement requesting re-activation of the account before the 18th of April 2017 to avoid being marked as dormant as per the regulations.
