Public Accounts Committee Recommends Removal of Central Bank Governor Ali Hashim

The Public Accounts Committee of the Maldivian Parliament has approved a recommendation to remove Central Bank Governor Ali Hashim from his post. This decision comes after Governor Hashim failed to attend three scheduled committee meetings intended to address lawmakers' allegations that he was not adequately performing his duties.

During the committee session, all participating members agreed that further delays were unnecessary, dismissing the possibility of giving Governor Hashim another opportunity to defend his position.

According to the Maldives Monetary Authority (MMA) Act, both the Governor and Deputy Governor of the MMA are appointed and dismissed by the President upon the advice of Parliament. This framework ensures that the central bank's leadership remains accountable to both the executive and legislative branches of government.

Members of Parliament have expressed concerns that Governor Hashim has not been making sufficient efforts to advise the government and fulfill the objectives outlined in the MMA Act. These objectives are crucial for the effective functioning of the central bank and include maintaining monetary stability, regulating financial institutions, and ensuring a sound financial system.

The Public Accounts Committee's recommendation reflects broader concerns about the performance and accountability of key public officials. This move is seen as part of ongoing efforts to strengthen governance and ensure that public institutions operate effectively and transparently.

Governor Hashim's tenure has been marked by criticism from various quarters, with some MPs arguing that his leadership has fallen short of the expectations and requirements set forth in the MMA Act. The decision to recommend his removal underscores the importance of accountability and performance in maintaining the integrity of the country's financial system.

As the President reviews the committee's recommendation, stakeholders and observers will be watching closely to see how this decision impacts the central bank's operations and the broader financial sector in the Maldives.