Maldives Monetary Authority (MMA) says the US$ 150 million (MVR 2.3 billion) pledged by the Saudi Government is yet to be sent to the Maldives.

The Government had made the announcement of the pledge after President Abdullah Yameen’s visit to the Kingdom in October 2016.

Speaking about the aid, Fisheries Minister Dr. Mohamed Shainee, back in October, said that the MVR 2.3 billion was not earmarked for a specific project. As such, he said the funds will be absorbed to the reserves and will alleviate the stresses on the current financial status.

Dr. Shainee then said the funds will be received “soon”.

However, on Monday, MMA reported that the funds, overdue by the promised date by four months, had not been received yet.

This revelation comes mere weeks before Saudi King Salman bin Abdul Aziz Al-Saud is set to visit the Maldives. This also comes at a time when the rumors of the sale of Faafu Atoll to the King had spread. The Government is yet to deny the rumors.