The Supreme Court has denied bail for former President Abdullah Yameen who is currently serving a five-year jail sentence after being convicted of money laundering.

With this, the ex-President must remain under custody until the Supreme Court passes a ruling on his appeal case now at the top court.

At today's hearing, the Chief judge presiding over the trial, Judge Mahaaz Ali Zahir said the country does not have legal precedence where a man serving a sentence can be granted bail.

Judge Mahaaz said hence the former president cannot be granted bail to be released from the current jail sentence.

The other two judges on the Supreme Court bench also agreed with Judge Mahaaz's ruling.

The Supreme Court also said that it cannot grant a stay of the sentence given to the ex-President for his money laundering conviction.

But the top court had ordered a stay for the fine of USD 5 million imposed upon the former President along with his 5-year jail sentence in 2019.

The Ex-President is seeking to overturn the Criminal Court's decision issued against him on 29th November 2019 where he was found guilty of money laundering and subsequently given a jail sentence of 5 years and a fine of USD 5 million.