Another board member of the Pension Office has resigned over the government's plan to print money through the office.
Ashraf Rasheed, who was appointed to the board by the government on June 2, 2024, to represent the Finance Ministry, resigned on Wednesday.
Ashraf is the head of the legal department of the Finance Ministry.
The Pension Board held a meeting on Wednesday to discuss the plan to print money.
On October 22, Ahmed Saruvash Adam also resigned from the board after the government made plans to print money through the office.
The Chief Financial Officer (CFO) of the Pension Office Hawwa Fajwa resigned after refusing to sign a document related to the money printing transaction.
The government is trying to print MVR 2.3 billion by forcing the Pension Office to invest in government bonds. This will increase the money circulating in the economy.
