Former President Ibrahim Mohamed Solih has said the government must not do anything that could undermine the trust in the Bank of Maldives (BML).

In a post on X today, Solih said the national bank is connected to the lives of many people and entrepreneurs.

"Even the government should not do anything to undermine the trust in BML. If trust in BML is lost, it will be a great loss for the entire society. It is the people's bank," Solih wrote.

His remarks come amid a police investigation into allegations that a professional decision made by the bank's board to suspend dollar transactions from Rufiyaa accounts was a "financial coup."

The government claims BML and the opposition Maldivian Democratic Party (MDP) colluded to overthrow President Dr. Mohamed Muizzu's government on August 25. Police say people were urged to take to the streets against the government following BML's decision to suspend the dollar limit.

The bank's Managing Director and CEO Karl Stumke has also resigned after leaving the country and no one has, so far, been questioned for the investigation.

Meanwhile, the government yesterday proposed to appoint Ahmed Ali Habeeb, the Principal Secretary to the President on Cabinet Affairs, as the bank's Chairman.