In their statement, the bank stated that the claims are incorrect and that there is no connection between the Government's repayment of this obligation and BML's financial position or its banking operations.
BML
In a press release, the Bank of Maldives (BML) has rejected recent claims suggesting that the Bank funded or provided the US Dollar liquidity for the Government's final USD 50 million repayment under the USD 150 million Treasury Bill facility with the State Bank of India (SBI), or that the repayment had any impact on BML's financial position.
In their statement, the bank stated that the claims are incorrect and that there is no connection between the Government's repayment of this obligation and BML's financial position or its banking operations.
The Ministry of Finance and Public Enterprises has publicly confirmed that the final USD 50 million repayment to SBI, made on 17 September 2026, was funded from the Sovereign Development Fund (SDF). This payment completed the Government's settlement of the USD 150 million Treasury Bill facility originally obtained in 2019, following two earlier USD 50 million repayments.
BML strongly stated that the bank did not fund this repayment from customer deposits, its own resources, or any other BML funds.
BML remains financially strong
BML also noted that the bank continues to maintain a strong financial position and operates within its established risk appetite, regulatory requirements and robust governance and risk management frameworks.
The Bank's liquidity, capital and financial position are continuously monitored through established management, risk management and Board governance processes.
The Government's repayment of its T-Bill obligation to SBI was a separate transaction and did not draw on BML's financial resources or affect the Bank's ability to meet its obligations to customers.
Responsible communication is important
BML stated that they fully recognise the importance of public scrutiny and informed discussion of matters concerning the country's financial system. However, claims concerning a bank's financial position must be based on verified facts, particularly where such claims have the potential to affect customer confidence, shareholders and the stability of the financial system.
The bank noted that repeated circulation of incorrect or misleading claims can create unnecessary concern among customers, businesses and investors and can undermine confidence in the Bank, the broader banking sector and the Maldivian economy.
BML therefore urges all stakeholders, including public officials, political representatives and media organisations, to verify information with the relevant institutions before making or publishing claims concerning the Bank, its financial position or customer funds.
Protecting the Bank and its stakeholders
BML noted that the bank has a responsibility to protect the interests of its customers, shareholders and other stakeholders, as well as the integrity and reputation of the Bank.
Where false, misleading or defamatory information is published or circulated and is considered to cause, or have the potential to cause, material harm to the Bank, its customers or shareholders, BML reserves the right to take appropriate action, including legal action, against those responsible. This is particularly important where unsubstantiated statements relate to customer funds, the Bank's financial position or transactions involving the Bank, as such statements can have consequences extending beyond the Bank itself and may undermine confidence in the wider financial system.
BML noted that the bank remains committed to transparent and factual communication with its customers and the public and will continue to provide accurate information on matters concerning the Bank.
