Maldives to draft asset recovery bill to combat corruption

The Maldivian government has started drafting an asset recovery bill aimed at reclaiming state funds and property lost to fraud and corruption.

Speaking at a rally heard at ruling PNC’s headquarters on Sunday night, President Dr. Mohamed Muizzu announced the initiative and said instead of being a leader who always talks about recovering the money and property lost by the state through fraud and corruption, he is committed to become person who does it in practice by taking practical action.

The president highlighted the challenges of recovering assets under current laws and confirmed that the new bill would be designed to facilitate the recovery of state funds, even those held in foreign countries. This legislation is part of broader effort to ensure accountability and reclaim assets linked to corrupt practices, he said.

"We have started preparing a specialized bill for asset recovery. We will submit an asset recovery law to parliament," he said.

President Dr. Muizzu, who was the Housing Minister during former President Abdulla Yameen’s term, also spoke about the biggest graft case in the government of President Yameen -- the MMPRC scam. He pledged to recover the funds lost in the MMPRC scam and vowed to identify and punish those responsible.

“This government will identify the perpetrators of the theft and punish whoever they are and do everything necessary to recover the money for the Maldivian people,” he said.