Maldives president claims coup attempt amid financial turmoil

Maldivian President Mohamed Muizzu has accused the Board of the Bank of the Maldives (BML) of deliberately attempting to destabilize his government, alleging that their actions are part of a broader coup effort orchestrated by the opposition Maldivian Democratic Party (MDP).

Muizzu stated that the police are investigating an alleged plot to overthrow him by inciting public protests over the archipelago's deteriorating financial situation, Caliber.Az reports, citing foreign media sources.

The controversy began last weekend when BML halted debit card transactions and limited monthly credit card usage to $100 for online transactions, sparking public outrage and calls for protests on social media.

Muizzu condemned the bank’s decision, calling it an unlawful attempt to topple his government. He argued that the bank’s actions have fueled public discontent, leading to street protests.

According to the Maldivian police, “Hundreds of ‘bot’ accounts were used on social media to encourage people to take to the streets, overthrow the government, and incite public unrest.”

BML defended its decision, which has since been reversed, stating it was in response to increasing foreign currency spending on cards and stagnant foreign currency sales to the bank.

Muizzu assured the public that the investigation's findings would be disclosed and reaffirmed his commitment to maintaining stability in the country.