Maldives Takes Major Steps Towards Financial Institution Anti-Corruption Policies

Establishing a Robust Anti-Corruption Framework

The Maldivian government has made significant strides in recent years to strengthen its financial sector and combat corruption by establishing robust anti-corruption policies within its financial institutions. At the heart of these efforts is the Anti-Corruption Commission (ACC), a statutory institution established in 2008 with the aim of preventing and combating corruption within the public sector.

The Anti-Corruption Commission

The ACC’s mandate is rooted in the Prevention and Prohibition of Corruption Act (PPCA) of 2000, which defines and criminalizes corruption. The Commission has five members appointed by the President of the Maldives with approval from the People’s Majilis (Parliament), including a president and vice president who are selected by the Commission members.

Key Responsibilities

According to the ACC’s legal mandate, its primary responsibilities include:

• Inquiring into allegations of corruption
• Investigating complaints and information
• Recommending further inquiries and investigations
• Promoting integrity in the operations of the state

Departments Within the ACC

To achieve these objectives, the Commission has divided its functions into four key departments:

• Support Services Department
• Investigation Department
• Prevention Department
• Legal Department

Public Awareness Programs

The ACC’s efforts have been further bolstered by its commitment to public awareness programs, including seminars, workshops, and research initiatives aimed at promoting the values of honesty and integrity in the operations of the state.

Challenges Ahead

While challenges persist in implementing effective anti-corruption policies, the Maldivian government’s efforts to strengthen its financial institutions and promote transparency are steps in the right direction. As the ACC continues to work towards its mandate, it remains committed to fostering an integrous society free from corruption, a vision that resonates with the country’s people.

Financial Institution Anti-Corruption Policies

In terms of financial institution anti-corruption policies, the Maldivian government has established several key measures:

• The Prevention and Prohibition of Corruption Act (PPCA) of 2000: defines and criminalizes corruption.
• The Anti-Corruption Commission Act (ACCA) of 2008: mandated the establishment of the ACC as an independent statutory institution.
• The ACC’s legal mandate: includes inquiring into allegations of corruption, investigating complaints and information, recommending further inquiries and investigations, and promoting integrity in the operations of the state.