According to the Section 35 of the Maldives Bank Act (Law No.24/2010), accounts opened at banks are required to be classified as Dormant if an account holder has not conducted a transaction from the account or had not had any correspondence in writing with the bank for consecutive five (5) years.
Commercial Bank of Maldives has sent letters to all customers with accounts having no transactions for the last 5 years and given a time period to revert with an action for the funds in the account. If the Bank receives no response within the given period of time, the Maldives Banking Act require the Bank to publish the names of such account holders in a local newspaper and the Government Gazette. If no response had been received and funds were not claimed by the customers after sixty (60) days of the publication, the funds are to be transferred to Maldives Monetary Authority (MMA) as required under the said Act.
Below is the list of dormant accounts at Commercial Bank of Maldives.
For additional information you may contact our Contact Center on +960 3332668
