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A digest of news and opinion from the Maldives.

Sharu Launch Services

Ex-Fenaka MD escapes indictment over illegal USD purchase

2 min read

Mohamed Nimal, formerly the managing director of MRDC. FILE PHOTO/MIHAARU The Prosecutor General’s Office informed the Anti-Corruption Commission (ACC) on Wednesday, to take back the charges against Mohamed Nimal, the former managing director of the state-run utility firm Fenaka Corporation, and three others for the illegal purchase of US Dollars to the corporation. Fenaka had […]

Nimal

Ex-Fenaka MD and three others to be charged over illegal USD purchase

2 min read

Mohamed Nimal, formerly the managing director of MRDC. FILE PHOTO/MIHAARU The Anti-Corruption Commission (ACC) has requested the prosecutor general to charge Mohamed Nimal, the former managing director of state-run utilities firm Fenaka Corporation, and three others for the illegal purchase of US Dollars to the corporation. The three others to be prosecuted are the former […]

The Mauritius Commercial Bank (MCB) branch in the capital Male. MIHAARU FILE PHOTO/NISHAN ALI

Speedboat firm withdraws lawsuit against Mauritius Commercial Bank

1 min read

The Mauritius Commercial Bank (MCB) branch in the capital Male. MIHAARU FILE PHOTO/NISHAN ALI Local firm Sharu Launch Services Pvt Ltd has withdrawn its lawsuit against Mauritius Commercial Bank (MCB), seeking MVR 150 million as compensation for damages caused by the bank allegedly refusing to sell US Dollars to the company. Sharu Launch claimed that […]