Finance Ministry Clarifies Compensation Disbursement Amid Controversy

The Finance Ministry clarified that MVR 101.7 million disbursed in late November as compensation was related to international arbitration transactions. The decisions on compensation payments were made before the new government took office. President Dr Mohamed Muizzu dissolved a Settlement Committee established by the previous administration, which had decided to withdraw over MVR 1 billion from state funds. The Committee had allocated MVR 225 million in compensation and MVR 1 billion worth of state assets, including islands and lagoons. The President's Office expressed concerns about lack of legal framework and that compensation decisions were made without involving the State Attorney General's Office, potentially violating Article 133 (c) of the Constitution. The Committee was formed in January 2019 to address disputes from the previous administration's actions.

The Finance Ministry clarified that MVR 101.7 million disbursed in late November as compensation was related to international arbitration transactions. The decisions on compensation payments were made before the new government took office. President Dr Mohamed Muizzu dissolved a Settlement Committee established by the previous administration, which had decided to withdraw over MVR 1 billion from state funds. The Committee had allocated MVR 225 million in compensation and MVR 1 billion worth of state assets, including islands and lagoons. The President's Office expressed concerns about lack of legal framework and that compensation decisions were made without involving the State Attorney General's Office, potentially violating Article 133 (c) of the Constitution. The Committee was formed in January 2019 to address disputes from the previous administration's actions.

The Finance Ministry clarified that MVR 101.7 million disbursed in late November as compensation was related to international arbitration transactions. The decisions on compensation payments were made before the new government took office. President Dr Mohamed Muizzu dissolved a Settlement Committee established by the previous administration, which had decided to withdraw over MVR 1 billion from state funds. The Committee had allocated MVR 225 million in compensation and MVR 1 billion worth of state assets, including islands and lagoons. The President's Office expressed concerns about lack of legal framework and that compensation decisions were made without involving the State Attorney General's Office, potentially violating Article 133 (c) of the Constitution. The Committee was formed in January 2019 to address disputes from the previous administration's actions.

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