MDP responsible economic plight, nation's stake supersedes individual concerns: Saeed

The Minister of Economic Development and Trade Mohamed Saeed has responded to his predecessor, Fayyaz Ismail, alleging Maldivian Democratic Party (MDP) is responsible for the current fiscal plights.

Fayyaz raised concerns over Bank of Maldives' (BML) decision to remove Deputy CEO Aishath Noordeen from the bank's board.

In a post on X, Fayyaz called the government to stop its undue influence to BML immediately "for the sake of the integrity" of the country's financial system. He also emphasized the bank's significance, calling it an "important part of the economy."

"Particularly removing an experienced Banker such as Aishath Noordeen from the Bank's board while the country is on the verge of an economic crisis is insane," Fayyaz said in his post, and said this decision would creative a negative perception towards the country's financial system amongst the international community.

In response, Saeed alleged the MDP-led government is responsible for the regression of the Maldives' economy. In his post, Saeed alleged the former government accumulated debts unprecedented by the country in the past 100 years.

The incumbent Economic Minister alleged the former government is responsible for plunging the country's economy into its current conditions.

'Sun' Online has learned that Noordeen's dismissal was informed to her by the Privatization and Corporatization Board (PCB) last Thursday.

Noordeen, had been serving BML for 42 years at the time of her dismissal.

Earlier in January 2024, PCB had dismissed five board members of the bank, but were later reinstated to their positions.

The board members were later dismissed from their roles at a shareholders' general meeting, which is a mandatory requirement to dismiss board members in a public company.