President Ibrahim Mohamed Solih on Thursday dissolved the Presidential Commission on Asset Recovery.
The Asset Recovery Commission was formed on November 17, 2018, the same day President Ibrahim Mohamed Solih was sworn in. The commission was formed to investigate corruption and recuperate state assets lost from January 1, 2012, till November 17, 2018, and ensure that all responsible authorities carry out their legal duties to investigate corruption and abuse of power within state and government institutions.
The President's Office Thursday said the President dissolved the Presidential Commission on Corruption and Asset Recovery, which was established under the Presidential Decree 14/2018. The President's Office said the commission's tasks and responsibilities would be carried out by relevant institutions henceforth.
Since the Asset Recovery Commission was established, the State has spent over MVR 20 million on the commission. The majority of the funds were spent on the salary of commission members. In this regard, until November last year, MVR 9.1 million was paid as the salary of commission members.