Some senior employees of the Pension Office are refusing to sign the documents required for the government's efforts to print money.

President Mohamed Muizzu promised to maintain economic stability without printing money. But the promise has been broken with the plans.

Under the plan, the central bank Maldives Monetary Authority (MMA) will give money to the Pension Office. The Pension Office will then invest the money in a Finance Ministry bond.

The top employees of the Pension Office are being compelled to sign some documents related to the transaction.

The Pension Office has not yet commented on the matter. Its Chief Financial Officer (CFO) Hawwa Fajwa resigned recently.

Earlier, on October 22, Ahmed Saruvash Adam also resigned from the Pension Office board in protest against the plans to print money.

"I believe it raises serious legal, fiduciary, and economic concerns, and I chose to step down to uphold the principles of prudence, integrity, and institutional independence," Saruvash said in a post on social media X.

The government refuses to acknowledge that this is money printing, with some officials insisting that the plan does not involve injecting money and is only an investment.