Police have said that no one has been questioned a month after initiating an investigation into a professional decision by the Bank of Maldives (BML) board to suspend dollar transactions from Rufiyaa accounts.

A police spokesperson told Adhadhu that there was no update on the investigation and that no one had been questioned.

"No one has been questioned and no progress has been made so far. There is no update," police said.

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.

Police announcement of the investigation coincided with President Muizzu first raising the allegations of a "financial coup" at the ruling People's National Congress (PNC) rally on August 26.

Even before that, government officials had labelled the national bank's decision a coup.

Meanwhile, BML Managing Director and CEO Karl Stumke resigned after leaving the country. Police had not sought a court order to impose a travel ban on him.

The government had also tried to push the narrative that a coup attempt was underway after the national bank decided to suspend dollar transactions from Rufiyaa accounts.

Several journalists said President's Office Communications Minister Ibrahim Khaleel instructed their outlets to push that narrative. A top government official told Adhadhu that the government was the first to characterize the events as a coup attempt.

“[We] were forced to set the narrative that way because the public started thinking that the dollar limit was a government decision,” the official said.

A source from a media outlet that received instructions from the President's Office said Khaleel contacted the outlet repeatedly and instructed them to bring articles describing the "financial coup."