Bank of Maldives (BML) CEO and Managing Director Ibrahim Shareef has dismissed rumours circulating on social media claiming that the bank has been suspended from the SWIFT network.

Addressing the issue on Tuesday night, Shareef said the claims, which also alleged disruptions to telegraphic transfers, cross-border payments and a lack of funds in the bank’s NOSTRO accounts, are false.

He confirmed that BML has not been suspended from SWIFT and that all banking services, including telegraphic transfers, cross-border transactions and card services, are continuing without interruption. Shareef also stated that the bank maintains required foreign exchange liquidity levels and that its NOSTRO accounts remain adequately funded.

Shareef urged the public not to spread unverified information, particularly at a time of global economic uncertainty, noting that such rumours could negatively impact customers, the national economy and the stability of the banking system.

He added that both BML and the Maldives Monetary Authority will provide accurate information regarding the country’s banking sector.