The court overturned the Maldivian criminal court's December decision to freeze Yameen's accounts over allegations that the former president had bribed witnesses in a money laundering case against him.
According to the local media, the court's ruling said that the lower court's order to freeze Yameen's accounts was obtained in violation of the criminal procedure law.
This comes after on Thursday, the High Court also overturned a criminal court order to detain Yameen for the duration of the money laundering trial.
The former Maldivian president has been implicated in the country's largest corruption scandal, the investigation into which started in late 2015 and revealed that over $79 million in tourism revenue that was meant to go to the Maldivian government went into bank accounts of over 150 individuals.
Yameen is being accused of receiving over $1 million. He denies any wrongdoing.