At a time when work is underway to sell a 2.4 billion rufiyaa bond to the government from the money in the public retirement pension fund, Dr. Ahmed Inaaz, Chairperson of the Board of Maldives Pension Administration Office, has resigned from his position today.

The Pension Office is an institution with the legal responsibility to safely maintain the retirement savings of Maldivian citizens and to earn profits by investing that money. However, it has been learned that major differences of opinion have arisen in the matter of the government working to obtain a large amount of money through the Pension Office to solve the government’s financial shortage.

Dr. Inaaz has vacated his position at a time when the issue of selling this bond has become very heated. Questions have been raised about the safety of public money, and rumors have also spread that the Pension Office’s board is facing pressure in connection with this matter.

Although a direct reason for Dr. Inaaz’s resignation has not been officially disclosed, this is believed to be a decision related to the government’s bond issue.

Details to follow…