Bank of Maldives (BML) has stated information about SOF Private Limited was shared with all relevant authorities. SOF was accused of being party to the corruption scandal regarding Maldives Marketing and Public Relations Corporation (MMPRC).
In a document sent to its employees, the national bank details, a year prior to the Auditor General's Office's probe into the MMPRC corruption allegations, details regarding suspicious transactions between SOF and MMPRC's bank accounts were reported to relevant authorities. It stated the same information was provided to the Auditor General's Office and Maldives Police Service upon request.
BML also claims its chief internal auditor carried out an audit in connection with the MMPRC corruption case, after which the bank was assured its actions were in line with the law when it came to the case. Therefore, BML expresses confidence that neither the bank as a whole nor an individual employee has carried out any action that might implicate the bank in the MMPRC corruption scandal.
It is believed the MMPRC corruption case is the largest such scandal in Maldives with over USD 100 million embezzled from the company.