President Dr. Muizzu described the events of Sunday as a attempted "coup," emphasizing the severity of the situation.

Speaking at a PNC rally last night, he echoed the earlier statement by Fisheries Minister Shiyam, asserting that a coup was underway.

The President disclosed that he had urged the Bank of Maldives (BML) not to cancel dollar transactions for cards linked to MVR accounts.

The government worked late into Sunday to reverse BML's decision, according to Dr. Muizzu.

He pointed out that the government has limited influence on the bank's board, stating,

The President acknowledged the cooperation from directors on BML's board, as well as those representing common shareholders.

He specifically expressed appreciation for the support received from Champa Mohamed Moosa, representing the BML General Directors.

Although the bank has yet to appoint a chairman due to the current situation, President assured that the government has taken all necessary steps to address the situation.

He also mentioned that the police are investigating illegal activities linked to yesterday’s incidents and promised that more details would be revealed once the investigation is complete.

On Sunday morning, BML made an announcement outlining changes to card limits for foreign transactions.

This included the suspension of allowances for existing and new cards linked to MVR accounts and a reduction in credit card limits for standard and gold cards to USD 100.

The announcement caused widespread distress among students and citizens living abroad.

In response to public outrage, the BML board convened a meeting later in the afternoon, where they reversed the decision, restoring the previous limits and allowances.