Maldives central bank, Maldives Monetary Authority (MMA) Deputy Governor Ahmed Imad tendered his resignation on Monday.
His resignation came just before a motion to recommend his dismissal was tabled to be heard in Parliament.
In his resignation letter, Imad expressed pride in his work especially the efforts in the Foreign Exchange Act and relevant regulations.
Imad had been accused of being at fault for not reporting former Governor Ali Hashim when he had failed to execute his legally mandated responsibilities.
Imad had been serving as Deputy Governor since 2020.
Ali Hashim was dismissed from his post as Governor in July last year, following the recommendation of the Parliament.
The Parliament had found that Hashim had not been performing his duties effectively as Governor, particularly at a time when the government was raising funds from the domestic market and required effective regulation. The committee also noted that the MMA had not advised the government since November 17, 2023, on the key objectives outlined in the MMA Act.
Under the Maldivian Constitution, the president has the authority to remove the Governor of the MMA based on the advice of Parliament.