Police have initiated an investigation after alleging the opposition attempted to orchestrate a coup when the Bank of Maldives (BML) announced a decision to block dollar transactions from Rufiyaa accounts.
In a statement issued tonight, police said the decision taken by the national bank, of which the government is a majority shareholder, was announced in contravention to the advice of the government.
It added that the opposition Maldivian Democratic Party (MDP) was holding a press conference regarding the financial situation when the decision was announced and that it was followed by calls to overthrow the government using "hundreds of bot accounts" on social media.
"Attempting to create unrest following the decision of BML can be viewed as an attempt to overthrow the elected government," the statement read.
BML's decision was taken by the bank's board on Saturday night. BML publicised the decision on Sunday morning after enough time had passed for the government to instruct the bank to stop the decision.
Earlier on Sunday, the bank said the decision was made "in response to the escalating usage of foreign currency spent on cards and the static sale of foreign currency to the bank."
However, BML later announced that the decision had been reversed based on instructions from the central bank MMA.
BML CEO and Managing Director Karl Stumke has previously said that "difficult decisions" could be made as the amount of dollars available to buy is less than the amount sold.
The President's Office also summoned Stumke and MMA Governor Ahmed Munawar to an emergency meeting on Sunday afternoon.
Adhadhu understands that the decision was reversed after MMA assured the bank that it would provide dollars as needed.
