CMDA fines Bank of Maldives

Capital Market Development Authority (CMDA) has fined Bank of Maldives for failing to publish its financial statement for the final quarter of last year.

Public Companies must public their financial statements within 30 days of the end of every quarter.

CMDA said that BML was fined Rf 10,000 when it failed to submit the statement by last Thursday, after being allowed 37 extra days to do so.

CMDA has ordered BML to submit the statement before the end of work hours next Thursday. Extra fines will be levied if the bank fails to meet the new deadline.

STO, MTCC, MTDC and Dhiraagu have published their quarterly reports.