Nazim Urges Oversight on Foreign Executives in State-Owned Companies

Deputy Speaker of Parliament Ahmed Nazim raised concerns about foreign executives in state-owned companies during a debate on the Companies Act Amendment Bill. He cited the recent Bank of Maldives (BML) dollar transaction limit controversy, noting that non-Maldivian executives—operations director, credit control manager, and risk manager—each earned $15,000 and were in key roles when BML initially imposed limits. The bank reversed the decision after government pressure, and President Dr Mohamed Muizzu called the initial action an attempted coup. Nazim urged the Finance Ministry and Privatisation and Corporatisation Board (PCB) to strengthen governance.

Deputy Speaker of Parliament Ahmed Nazim raised concerns about foreign executives in state-owned companies during a debate on the Companies Act Amendment Bill. He cited the recent Bank of Maldives (BML) dollar transaction limit controversy, noting that non-Maldivian executives—operations director, credit control manager, and risk manager—each earned $15,000 and were in key roles when BML initially imposed limits. The bank reversed the decision after government pressure, and President Dr Mohamed Muizzu called the initial action an attempted coup. Nazim urged the Finance Ministry and Privatisation and Corporatisation Board (PCB) to strengthen governance.

Deputy Speaker of Parliament Ahmed Nazim raised concerns about foreign executives in state-owned companies during a debate on the Companies Act Amendment Bill. He cited the recent Bank of Maldives (BML) dollar transaction limit controversy, noting that non-Maldivian executives—operations director, credit control manager, and risk manager—each earned $15,000 and were in key roles when BML initially imposed limits. The bank reversed the decision after government pressure, and President Dr Mohamed Muizzu called the initial action an attempted coup. Nazim urged the Finance Ministry and Privatisation and Corporatisation Board (PCB) to strengthen governance.

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