Ahmed Inaz, the former Finance Minister and Chairperson of the Board of the Maldives Pension Administration Office (MPAO), has resigned from his post.

He confirmed his resignation via a post on social media platform X.

Inaz’s resignation comes amid extensive discussions regarding a transaction involving the central bank, Maldives Monetary Authority (MMA), investing in the Pension Fund, which in turn invests those funds into government bonds.

In his post, Inaz expressed his belief that "a sustainable solution could not be found" for the matter. He further stated that seeking funds through the MMA, given the current economic climate of the Maldives, is a decision he believes to be detrimental. He noted that he chose to step down as he "technically" views the current approach as high-risk and potentially harmful to the economy.

"My prayer is for the state's financial affairs to become more robust and for reforms to be guided by far-sighted policies," Inaz stated in his post.