Home Minister Ali Ihsan said politicians are manipulating the black market for illegal dollar exchange in the Maldives.
Speaking at a press conference at the President's Office today, Minister Ihsan said exchanging foreign currency illegally without permission is a criminal offense.
Some people think this is very normal, he said, adding that this includes resorts and individuals.
Ihsan said the dollar exchange rate is not determined based on ordinary market rules and that some politicians are working to control the dollar exchange rate in the country.
The minister also revealed that seven dollar dealers had dealt $76 million in the black market in the past nine months. These include unauthorized businesses and some famous resorts, which are serious criminal offenses such as money laundering.
Minister Ihsan urged all parties not to get involved in such criminal offenses unknowingly and reminded them that foreign currency should be exchanged at the official rate permitted by the MMA.
