BML Appoints Deloitte Singapore for Forensic Audit


Image: Mihaaru

Bank of Maldives (BML) has appointed Deloitte Singapore for forensic audit on the MMPRC scandal case. As part of its work, Deloitte will review all Bank interactions with MMPRC and SOF Pvt Ltd.

Deloitte Singapore will also conduct a full examination of all transactions, including endorsed cheques, as well as the reporting and control procedures in place at the time. The Bank’s current policies and procedures will also be reviewed to evaluate BML’s strength in terms of risk management and compliance with international standards.

“The Board feels that it is in the best interests of the Bank and the country to engage an independent external party to conduct a detailed investigative audit into the transactions relating to this matter. We have therefore engaged international consultancy firm, Deloitte Singapore with more than 150 years of experience in financial services, to conduct a forensic audit.” BML revealed in a press release.

BML further revealed that this review reflects the determination of the recently appointed Board and CEO to ensure that the Bank of Maldives is seen as a trusted institution with the highest levels of integrity.