ACC Report: MVR 49.4 million from the loans issued in Maumoons Presidency not returned to state

A report published by the Anti-Corruption Commission (ACC) has said that MVR 49.4 million from the loans issued during the Presidency of Maumoon Abdul Gayoom has not been paid back to the state.

ACC issued a report today following an investigation regarding a case filed claiming that the Ministry of Finance and Treasury did not take efficient steps to ensure the return of the loans issued under special privileges of the President during Maumoon’s Presidency.

The report said that the Ministry has notified the ACC that they are working to recover the money following the 2010 Audit Report regarding the pending returns from government loans from 1992 to 2008.

ACC said that there is no corruption involved in the matter.

But with the delay in recovering the money, ACC has asked to take the cases to court to hasten the process and blacklist those who do not pay back the loan and share their information with all banks in the country.

And with some missing digits from the serial numbers on the loan list the ACC also ordered the Ministry to pay more attention to such matters.

The report from the ACC said that MVR51.4 million from 154 loans from the Presidency of Maumoon were pending up to 2010 but by 2015, only 94 of those loans remain.