President Muizzu Calls BML’s Sunday Action, Aftermath ‘Attempted Coup’

President Mohamed Muizzu characterized BML's announcement limiting US dollar transactions as a long-planned attempted coup. The decision was reversed within hours after MMA intervention. Muizzu said the board acted against his direct instructions and warned of constitutional measures. He accused the opposition MDP of trying to engineer a coup. Police have launched an investigation. Muizzu listed six proposed board members from May's AGM. BML CEO Karl Stumke reported the bank traded US$333 million in excess of buying capacity over three years and sold nearly double the US$60 million acquired so far in 2024. The government controls over 66.3% of BML shares.

President Mohamed Muizzu characterized BML's announcement limiting US dollar transactions as a long-planned attempted coup. The decision was reversed within hours after MMA intervention. Muizzu said the board acted against his direct instructions and warned of constitutional measures. He accused the opposition MDP of trying to engineer a coup. Police have launched an investigation. Muizzu listed six proposed board members from May's AGM. BML CEO Karl Stumke reported the bank traded US$333 million in excess of buying capacity over three years and sold nearly double the US$60 million acquired so far in 2024. The government controls over 66.3% of BML shares.

President Mohamed Muizzu characterized BML's announcement limiting US dollar transactions as a long-planned attempted coup. The decision was reversed within hours after MMA intervention. Muizzu said the board acted against his direct instructions and warned of constitutional measures. He accused the opposition MDP of trying to engineer a coup. Police have launched an investigation. Muizzu listed six proposed board members from May's AGM. BML CEO Karl Stumke reported the bank traded US$333 million in excess of buying capacity over three years and sold nearly double the US$60 million acquired so far in 2024. The government controls over 66.3% of BML shares.

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