The CEO and Managing Director of the Bank of Maldives, Mohamed Shareef, has led a firm rebuttal against circulating claims that the bank has been suspended from the SWIFT network, assuring customers that all international transactions remain fully operational.
Addressing the issue publicly, Shareef said allegations that cross-border payments, including Telegraphic Transfers (TTs), had been halted due to a SWIFT suspension or lack of funds in Nostro accounts were “baseless and false”. He confirmed that BML continues to maintain sufficient foreign currency liquidity and that all Nostro accounts are funded within required limits.
“All essential services, including cross-border payments, card services, and TT services, are continuing without interruption,” he said, warning that such misinformation risks damaging public trust and destabilising the financial system at a critical time for the World economy.
He further urged customers to rely only on official communications from the bank or the Maldives Monetary Authority, cautioning against unverified claims circulating through unofficial source.
The remarks come as BML accelerates one of its largest housing initiatives to date, marking a series of high-profile project launches attended by President Dr Mohamed Muizzu and senior officials
In a span of days, the bank has overseen multiple groundbreaking ceremonies, including 300 housing units on 26 March, 182 units earlier this week, 1,190 units yesterday, and the latest 364-unit project launched tonight in Hulhumalé Phase I.
Together, these developments form part of BML’s broader commitment to deliver a total of 3,260 housing units under its affordable housing programme, positioning the bank at the centre of the government’s push to address housing demand while reinforcing economic stability.
