Juvenile Association, LH. Naifaru, has filed a lawsuit against the Bank of Maldives, after the Bank refused to allow Juvenile to withdraw cash from their US dollar account at the Bank.
The case was filed at the Civil Court yesterday.
Juvenile said in their claim that the Bank refused to issue US Dollars last Monday, saying that they could not withdraw dollars as they had not deposited dollars in physical cash at the Bank. However, Juvenile said that they had the right to withdraw US dollars deposited in their account by foreign donors.
Juvenile said that the association suffered considerable financial difficulties due to the Bank’s refusal to let them withdraw US dollars, and that the association faced much difficulty in carrying out projects as per the agreements made by the association with international donors as a result.
“We obtain the services of the Bank just like any other customer, and we pay any fees and commissions payable to the bank. As such, we do not believe that there are any grounds on which the Bank can refuse to let us withdraw the cash that are deposited by us or for us in our account”, read the claim statement.
The claim was accompanied by a request for Court Order to release money.