Bank of Maldives (BML) has filed a formal complaint with the Maldives Media and Broadcasting Commission (Control Commission) against Adhadhu, following an article regarding the suspension of dollar support for business telegraphic transfers (TTs).
The commission has notified Adhadhu of its decision to investigate the complaint filed by BML. Adhadhu has been given seven days to respond to the allegations.
The article in question, published on April 20, 2026, included comments from several prominent businessmen. Adhadhu had also reached out to BML for comment; however, the bank failed to provide a statement at the time.
BML has suspended dollar support for imports, say businesses
The Bank of Maldives has reportedly suspended US dollar support for import-related transfers until the end of the month. This move forces businesses to source currency from the black market at high rates, leading to a sharp rise in local prices. BML has not officially commented on the suspension or the resulting challenges for traders.
After the article was published, BML issued a press release denying that it had suspended dollar support. Adhadhu reported on the bank's denial as a separate article.
The original article regarding the suspension of dollar support was based on interviews with executives from some of the country’s largest importing companies. At the time, the sources identified the scarcity of dollars as the main reason for rising commodity prices.
"This is a massive loss. We are now forced to source 100 percent of the dollars required for imports ourselves [from the black market]," a director of one of the country’s largest importing firms stated.
Business officials often request anonymity when discussing such matters, citing concerns that the government may politically target their businesses. Protecting the identity of sources to prevent potential harm is a standard, globally recognized journalistic practice.
Up until the article was published, BML had not provided an official comment on the matter.
In its letter to Adhadhu, the Control Commission said that BML’s formal complaint had been forwarded. However, the complaint was not attached to the email sent by the Commission.
Furthermore, the letter sent by the commission was dated June 13, 2026. Adhadhu notes that previous correspondence from the commission also contained similar factual inaccuracies and numerous errors.
