Anti-Corruption Commission (ACC)'s President, Adam Shamil has said the National Asset Recovery System is an effective system to recover funds lost due to corruption.

At the inauguration ceremony of the National Asset Recovery System workshop, Adam Shamil said research indicates the Administration has lost great amounts due to corruption. He noted that the amounts are enough to build a school, or a hospital, or develop a harbour in an island. He said this speaks volumes about the extent of damages caused due to corruption.

"Corruption takes away from development that could better the lives of the public", Shamil said.

Shamil added that the Government institutes can work to cease acts of corruption and should work diligently to help to recover funds lost due to corruption.

He further added that the National Asset Recovery System can be more effective with the collective efforts by all the institutions, and that it requires the latter to be committed to the efforts to manage mismanagement of funds within the institutes.

Shamil spoke about the role of the Committee created to aid with the formation of the National Asset Recovery System, adding that the Committee is crucial to realising the goal of the National Asset Recovery System.