- BML formally denied funding or supplying foreign exchange for the government's final USD 50 million SBI repayment.
- The bank confirmed the Ministry of Finance settled the payment directly through the Sovereign Development Fund.
- BML warned against unverified financial claims and reserved the right to pursue legal action against false reports.
The Bank of Maldives (BML) has formally rejected claims suggesting it funded or supplied the foreign exchange for the Maldivian government’s final USD 50 million repayment to the State Bank of India (SBI).
In an official statement released yesterday, the bank assured that the transaction had no connection to its operations, customer deposits, or internal financial resources, nor did it impact the bank’s financial stability.
The clarification addresses recent public speculation regarding the source of the funds used for the 17 September repayment. The transaction marked the final instalment of USD 150 million Treasury bill facility originally secured by the government in 2019.
BML confirmed that the Ministry of Finance and Public Enterprises funded the settlement directly through the country’s Sovereign Development Fund (SDF). This final USD 50 million payment followed two prior tranches of equal value.
The lender added that its capital, liquidity, and overall risk governance remain robust and regularly monitored.
BML highlighted the risk of circulating unverified financial claims, warning that misleading statements regarding customer funds or institutional solvency risk damaging investor confidence and broader economic stability. The bank urged media outlets, public figures, and political representatives to verify facts with official sources prior to publication.
The lender noted that it reserves the right to pursue legal action against individuals or entities circulating false or defamatory reports capable of causing material harm to the bank, its shareholders, or its depositors.
