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The government has submitted a new Asset Recovery Bill to Parliament, introducing a legal framework to confiscate assets acquired through major criminal offenses and stop offenders from benefiting financially.
News Desk
President Muizzu in a cabinet meeting - Photo: President Office
MALÉ: The government has officially submitted a new Asset Recovery Bill to the People’s Majlis aimed at establishing a comprehensive legal framework to confiscate wealth gained through serious criminal acts.
President Dr. Mohamed Muizzu announced the legislative submission today via a social media post, highlighting the administration’s commitment to stopping criminals from profiting off illegal activities.
The proposed law is designed to create clear procedures for seizing assets acquired through major crimes and returning stolen state property back to the public purse.
Key objectives and features of the proposed bill include:
Legal Framework: Introducing a legal procedure to confiscate assets acquired through major criminal offenses.
Blocking Profits: Stopping individuals involved in serious crimes from making further financial gains from illicit assets.
Resolving Challenges: Addressing long-standing legal gaps that previously hindered state efforts to reclaim stolen public assets.
State Recovery: Enhancing the government’s capability to identify and repossess state funds and property taken through unlawful acts.
The introduction of the bill fulfills a key promise by President Muizzu to strengthen anti-corruption mechanisms and resolve operational challenges faced by enforcement agencies in recovering misappropriated state funds.
