RaajjeMV has learned that, despite four months elapsing since the Maldives Police Service (MPS) uncovered the case, no one has been questioned regarding the government’s accusation that the Bank of Maldives (BML) staged a financial coup.

RaajjeMV’s attempts to attain an update on the matter through the police media official was to no avail as they failed to disclose any details and cited the ongoing investigation.

Further, even when repeatedly asked whether anyone has been questioned in connection with the case or not, they failed to answer.

However, according to a reliable source who provided information to RaajjeMV, so far no one has been officially questioned in connection with the case. The source also noted that no one has been accused either. The police have refused to officially confirm or deny this.

The investigation into the alleged financial coup began after President Dr. Mohamed Muizzu and senior government officials made accusations against opposition parties. The government has also refused to change the narrative of BML staging a financial coup even after months.

In a press conference held by the government, RaajjeMV pointed out that the government's continued claims of BML staging a coup are negatively impacting public perception of BML. RaajjeMV also inquired if the government believes that BML staged a coup and whether this wouldn't be detrimental to attracting foreign investments to the Maldives.

Responding to the question, Minister of Economic Development and Trade Mohamed Saeed said that whether it's BML or any bank, Maldivian citizens should be prioritized. Saeed noted that protecting SMEs and students studying abroad is a significant priority of  President Muizzu. However, he said that the government does not deal with BML directly and that transactions are conducted through the Maldives Monetary Authority (MMA).

The government raised allegations of a financial coup against BML after the bank decided to stop providing USD for MVR cards, with rhetoric suggesting an attempt to overthrow the government.

In a statement released by the police announcing the investigation into the case, it was stated that a bank with majority government shares made a sudden decision that shocked many Maldivian citizens, contrary to government consultation. At the same time, political parties held a press conference about the government's financial situation. The police also said that hundreds of bot accounts were used on social media to encourage people to take to the streets to overthrow the government.

The statement also said that some parties had called for disrupting public order. It was also stated that as this could be considered an attempt to illegally change a lawful government, given that it encouraged undermining national interests, the Maldives Police Service has begun investigating this matter.

The police later revealed actions taken in connection with the investigation into the alleged attempt to overthrow the government following BML's decision to stop providing USD for MVR cards. However, the police have faced significant criticism for claiming this was an attempt to illegally change the government by saying that bot accounts were used to encourage people to take to the streets to overthrow the government. As the police have not found solid evidence related to the case so far, many people continue to say that this was a politically motivated claim.