A motion has been submitted to Parliament’s Finance Committee recommending the removal of Ahmed Imad, Deputy Governor of the Maldives Monetary Authority (MMA). The motion, proposed by Progressive National Congress (PNC) MP Abdul Latheef Mohamed from Dhidhoo and supported by Kelaa MP Abdulla Shareef, has now been referred to the full parliament for further action.
In his letter to the committee, Latheef claimed that Imad should be held accountable for his involvement in past decisions during the tenure of former MMA Governor Ali Hashim, who was previously removed for neglecting responsibilities. During discussions, Deputy Speaker Ahmed Nazim remarked that the Deputy Governor should align with the current MMA Governor.
However, some opposition lawmakers have strongly opposed the move. Hulhumale South MP Dr Ahmed Shamheed from the Maldivian Democratic Party (MDP) argued that Imad was facing pressure for opposing the allocation of MVR 14 billion for land acquisition in Hulhumale. He claimed that those critical of the decision were being pressured to resign from the MMA Board. MDP MP Abdul Ghafoor Moosa also criticised the motion, warning that increased government spending and potential money printing could destabilise the economy and weaken the Maldivian Rufiyaa.
Meanwhile, Shuhadh Ibrahim, a member of MMA’s Board, has resigned from his position. In his resignation letter, addressed to MMA Governor Ahmed Munawwar, Shuhadh raised concerns about the proposed land purchase for establishing a financial centre. He noted that he had urged the Governor and the Board to reconsider the decision but received no response. Expressing his unwillingness to remain on the Board under such circumstances, Shuhadh stepped down.
Shuhadh represented the Economic Ministry on MMA’s Board. His resignation follows that of Ahmed Zayan Mohamed, the Finance Ministry’s representative on the Board, who has also resigned from his post as Economist at the ministry. While Zayan has provided two months’ notice, he continues to hold his position on the MMA Board for the time being.
The Maldives Monetary Authority has yet to comment on the developments.
