The Bank of Maldives (BML) has firmly rejected allegations that it provided the $50 million used by the Maldivian government to settle its outstanding Treasury bill debt to the State Bank of India (SBI).

The clarification comes amid claims by opposition figures who have linked BML’s ongoing dollar liquidity challenges to the alleged financing of the government’s debt repayment. The government had previously maintained that the payment was made using funds accumulated in the Sovereign Development Fund (SDF).

In an official statement, BML asserted that there is no connection whatsoever between the government’s debt settlement and the bank’s financial position or operations. “BML has not utilized any customer deposits or any of the bank’s own resources to facilitate this payment,” the statement read.

The bank emphasized that it remains financially robust and continues to operate within defined risk appetites, regulatory standards, and a stringent framework of governance. BML also assured customers that there are no obstacles preventing the institution from fulfilling its obligations to them.

BML urged media outlets and political figures to verify information before commenting on the bank’s financial status, warning that it reserves the right to take legal action against those spreading misinformation intended to defame or damage the institution.

Despite these assurances, BML continues to face significant dollar liquidity constraints, causing ongoing difficulties for individuals and businesses attempting to make foreign currency transfers and payments.