PSM MD: MVR 4M owed to company from transactions to purchase USD

State media, Public Service Media (PSM)’s Managing Director Zeena Zahir states the company has not received MVR 4 million in connection to various transactions to purchase US dollars.

Speaking at a press conference on Wednesday, Zeena said the company’s Finance Head Ahmed Haneef, over the past four years, had conducted transactions with private parties to purchase US dollars unbeknownst to the company.

Emphasizing that the transactions had been conducted in violation of the company’s regulations, Zeena detailed that no agreements were executed with any of the parties regarding these transactions.

“We had taken the necessary steps after taking note of suspicious transactions starting from 2020 where large sums of money from the company’s budget had been transferred to private parties,” she said.

In this regard, Haneef was suspended from his post in April and later dismissed.

According to Zeena, PSM has not received MVR 4 million from these transactions as per documents. She added that the company’s safe contained just MVR 7 when she assumed her post.

Speaking further, Zeena said the probe into the case uncovered further cases related to Haneef.

“We have been receiving complaints from our staff that the former finance head had borrowed MVR 50,000, MVR 60,000, MVR 80,000 from them and not repaid it,” she detailed.

Zeena said the case has been submitted to Maldives Police Service for further investigation.

Meanwhile, efforts are being undertaken to conduct a financial audit of PSM starting from 2017, she added.

Zeena, underscoring the Privatization and Corporatization Board (PCB) had flagged many issues within the company, said they were shared with PSM’s former board of directors and management.