Attorney General Ahmed Usham has announced that the Asset Recovery Bill will be introduced in Parliament during the first session of next year. He made this statement during the press conference held at the President’s Office on Saturday.
The Attorney General indicated that he consulted with the Anti-Corruption Commission (ACC) regarding the bill upon taking office. While he initially hoped to present it this year, he noted that the ACC has not yet sent the bill to his office. In May, the ACC disclosed its efforts to create a law aimed at recovering funds lost to the state through criminal activities.
Additionally, Attorney General Usham highlighted that the previous government allocated assets worth USD 65 million to various entities, with only one individual receiving cash compensation. Most compensation was in the form of islands and lagoons, which Usham believes was done unlawfully. Noting that the government is currently exploring legal avenues to annul these agreements, expecting to complete this process by the end of November, the Attorney General reaffirmed the government’s commitment to recovering state assets.