A bill has been proposed to the Parliament of the Maldives to penalise false asset declarations with large fines and a 2-year prison sentence.
The Asset Declaration Bill was submitted to the parliament by Deputy Speaker Eva Abdulla. The objective of the bill is to strengthen the asset declaration process of state officials by establishing a legal framework with the required standards and procedures.
As per the bill, an individual who presents false information or deliberately excludes asset information will face a fine of up to USD 32,000 and a prison sentence of two years, along with dismissal from their state position. The investigation of such a case is required to be completed within one month after the case is submitted, and the trial is required to be completed within two months.
The bill also specifies the information which must be included when declaring assets. As such, any property owned, rented or mortgaged locally or abroad, any loans acquired or issued and any funds deposited to a local or foreign bank account must be included in asset declaration.