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Police have frozen the accounts of a company accused of unlicensed foreign currency trading and launched a search of its office in Male'.
Mariyam Adheela
Male’: Police have frozen the bank accounts of Naid Investment Private Limited and searched its office in Male’ as part of an investigation into alleged illegal foreign currency trading.
Police said the company had been conducting foreign currency transactions without a license issued by the Maldives Monetary Authority.
The accounts believed to have been used for the transactions have been frozen, while officers are searching the company’s office at M. Dhanbugoalhii for further evidence.
Police said the investigation remains ongoing.
The operation comes after amendments to the Foreign Exchange Act were ratified, introducing stricter requirements for foreign currency transactions.
