Maldivian President Accuses Opposition of Financial Coup Attempt

Maldivian police are investigating an alleged coup attempt, accused by President Mohamed Muizzu, involving a suspension of foreign transactions by the Bank of Maldives. Muizzu claims the opposition sought to incite public unrest by creating a financial crisis. The opposition denies this, suggesting internal administration issues.

The Maldivian police announced on Wednesday that they are actively investigating potential suspects in a supposed 'financial coup,' following President Mohamed Muizzu's accusation that the opposition aimed to topple his administration. This came after the Bank of Maldives froze foreign transactions using Rufiyaa cards.

Last Sunday, the Bank of Maldives temporarily halted foreign transactions on all debit cards linked to MVR accounts and limited the monthly credit card usage to USD 100. The decision was reversed within hours following instructions from the Maldives Monetary Authority. The police launched an investigation on Monday, suspecting an attempt by the opposition to destabilize the government.

President Muizzu, speaking at a party gathering, expressed concerns over the suspension's effect, emphasizing that the Bank's decision was made without government majority approval. The opposition party Maldivian Democratic Party (MDP) refuted the coup claims, suggesting internal administrative dysfunction as the cause for the unrest.

(With inputs from agencies.)