The Press has come to know that the government has reinstated two of the non-executive board members of the Bank of Maldives it had initially dismissed last Thursday.
The government on Thursday brought the Bank to a standstill when it decided to dismiss the five non-executive board members suddenly, snatching the bank from making any legal decisions.
This includes the Chairperson of the Bank Yooshau Saeed, Juweriya Saeed, Abdullah Hassan, Aishath Sajny, and Abdulla Husam Shareef.
Neither the government nor the Bank explained the sudden dismissal but media speculated that this was due to the board's reluctance to arrange the lifting of the dollar limit for students studying abroad as announced by the government earlier this year.
The Press has come to know that reinstation documents have been issued to board members Abdullah Hassan and Aishath Sajny. Some media reports have also indicated that the government is working to reinstate Chairman Yooshau Saeed but that he is refusing to take back his post following the dismissal.
This still leaves the bank short of one board member as its regulations state that there should be 8 board members for the bank to make legal decisions.
