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125 million rufiya (US$10 million) Paid to President's Cronies
Adduvas magazine
27 December 2005
translated by Maldives Culture with additions from Dhivehi Observer
updated 9 January 2006


Links to main sections:
  • Police Chief Adam Zahir.

  • Members of the majlis (parliament) and special constitutional majlis who received presidential special assistance loans.

  • The Three Largest Loans.

  • Those who have made no repayments, and owe over Rf50,000 (US$4,000).

  • Employees of president's office and palace who received loans and did not repay according to the terms.

  • Adduvas introduction
      police chief adam zahir has borrowed 8 million rufiya from the president and repaid nothing
    Graphic from Dhivehi Observer
    In this week's special report, Adduvas examines President Gayyoom's special assistance loan account (Maldive Monetary Authority Acc. No. 2060) and the soft loans granted from this source.

    It is difficult to understand why the public treasury of the government has become the private bank of a certain group of people. Have these the people faced exceptional circumstances that warrant the granting of a presidential special assistance loan? When we identified the people receiving these loans, it seems only highly-placed officials face special circumstances.

    It is understandable that public servants, who receive a low salary, may be given government financial assistance under circumstances of financial hardship. It is acceptable that people who have been long-term public servants be given such special assistance. It is acceptable for the government to provide financial help to high-level officials if circumstances warrant such assistance.

    However, a loan scheme that is kept secret from the majority of public servants, and only accessible to selected people while being prohibited to others, is a questionable form of presidential special assistance.

    What principles guide the granting of multiple loans to those who work in the president's office and palaces? Public servants in other government departments cannot access such loans.

    What was in the mind of the president when he granted soft loans to members of the majlis and special constitutional majlis?

    Has there been any attempt to recover loans where insufficient payments have been made and the contract terms have expired?

    Why have additional loans been given to defaulters?

    Why were some people given loans without repayment terms?

    Loans from the Presidential Special Assistance Loans acc. no. 2060 were granted at 6% interest rate (translator's note: the Maldives official loan interest rate is 10.75%, rates for Tsunami loans are 6% ).

    From 1 May 1993 to 31 October 2005, loans with a total value of Rf125.64 million (approx. US$10 million) have been given to 203 people.

    Of those who took loans, seventy people have repaid them. Complete and periodic repayments of Rf71.56 million (US$5.6 million) has been repaid of the total loans granted. There is a debt of Rf76.89 million (US$6 million) still owed to the Presidential account no. 2060.

    Notably, some people have not made any effort to repay their loans. Although others made some repayments, there is evidence that they did not comply with the procedures and times under which they borrowed the loans.

    Adduvas is publishing this information on the basis that the funds of the government are public funds and the Rf125.64 million in loans granted to various people from the presidential special assistance account no. 2060 are the rightful property of the people of Maldives.

    As part of the work to strengthen the democratic process in Maldives, the government is making a law that provides freedom of information, and the attorney-general and the information minister are now drafting a law that will give the public a right to know.

    The information minister has indicated that the government will be acting to reflect the spirit of the law currently being drafted, since it will take some time to complete the bill and introduce and debate the matter in the majlis before it is passed and assented by the president.




      adam zahir - maldives major-general of national security service militia and chief of police
    Maldives police chief and NSS major-general
    Adam Zahir


    Adam Zahir's building, all floors are rented to the Maldives government
    Adam Zahir's building, all floors are rented to the Maldives government.
    Police Chief Adam Zahir
    Vavathi house
    Maafannu ward, Male'
    Commissioner of Police
    Loan debt = Rf8,793,868.51 (US$689,715)

    Received a loan of Rf2 million on 9 March 2003 at an interest rate of 6% to be paid within 5 years.
    Received a second loan of Rf2 Million on 28 December 2003 at an interest rate of 6% to be paid within 5 years.
    Received a third loan of Rf4 million on 7 September 2004 at 6% interest rate to be paid within 5 years.

    Adam Zahir received a total of Rf8 million by end of 31 October 2005 but had not made a single repayment. Adam Zahir now owes a debt, including 6% interest, of Rf8,793,868.51 million to the government. This is 11.4% of the debt in presidential account number 2060.

    It should be noted that Adam Zahir received the second loan of Rf2 million nine months after the first loan, despite not making any effort to repay the first loan. The second loan was granted while he was transferred to the information ministry and being investigated over the shooting of prisoners in Maafushi prison in September 2003. Why was he given second loan when he had not made any repayments on the first loan?

    When borrowers fail to repay loans, creditors in this country usually go to the police station to get the debt recovered. Where would a person go to recover a debt from police chief Adam Zahir?

    Anyway, now a huge multi-storey building on the land block named Vavathi (translator's note: Adam Zahir's personal address) has been completed, and various floors of the building are leased out to the government. If he does not repay the loan, the government may withhold the rent as a contribution towards the debt. (The owner may also bring the police to remove the lessee from the premises for failing to pay rent.)



    Members of the majlis (parliament) and special constitutional majlis who received presidential special assistance loans

      abdulla shahid maldives mp
    Abdulla Shahid
    Member for Vaavu atoll
    Abdullah Shahid
    Rabi-ee Manzil house
    Heveiru, Male'
    Debt Rf2,588,532.74 (US$203,022)
    Shahid took a loan of Rf3.5 million in 2000 to be repaid within 8 years and 6 months. This term expires at the end of year 2008. He has paid about half this debt. On 31 October 2005, the remaining debt was Rf2,588,532.74.

      abdul rasheed hussain maldives
    Abdul Rasheed Hussein
    Ex-Member for Laamu atoll, and President's member of the Majlis
    Abdul Rasheed Hussein
    Uraha house
    Machangoalhi, Male'
    Debt Rf2,150,427.46 (US$168,660)
    Hussein borrowed Rf4.3 million in 2001 to be repaid within 5 years and the loan is due to expire. He has so far only paid back just over half the amount owed. On 31 October 2005 he had an outstanding debt of Rf2,150,427.46.

      abbas ibrahim - majlis member for south Huvadhu atoll when NSS attacked Fares Maathodaa in January 2006
    Abbas Ibrahim
    Member for Gaaf Dhaal (south Huvadhu) atoll
    Abbas Ibrahim
    (translators' note: Gayyoom's brother-in-law)
    Silver Cloud house
    Maafannu, Male'
    Debt Rf1,947,399.50 (US$152,737)
    Abbas Ibrahim received a presidential special assistance loan of Rf2 million in February 2005, soon after being elected to the majlis. He has paid Rf132,000 of the loan by 31 October 2005 and there is a remaining debt of Rf1,947,399.50.

      zahir adam - majlis member for south Huvadhu atoll in Maldives
    Zahir Adam
    Member for Gaaf Dhaal (south Huvadhu) atoll
    Zahir Adam
    Beach Corner house
    Maafannu, Male'
    Debt Rf1,560,554.08 (US$122,396)
    Zahir Adam received a presidential special assistance loan of Rf1.5 million in February 2005, soon after being elected to the majlis. He had not repaid anything on 31 October 2005, and his debt was Rf1,560,554.08.

      Samaru Blue Ibrahim Manik - brother-in-law of Gayyoom's wife Nasreena, and Gayyoom's propagandist
    Samaru Blue Ibrahim Manik
    Member for Haa Alif atoll
    Samaru Blue Ibrahim Manik
    (translators' note: Gayyoom's wife's brother-in-law)
    Endherimaage
    Maafannu, Male'
    Debt Rf1,266,308.43 (US$99,318)
    Ibrahim Manik borrowed a loan of Rf350,000 at an interest rate of 6% in 1996 to be paid within 5 years. In 2001, just before the five year term expired, he was given another loan of Rf600,000 although he had only repaid less than a half of the previous loan. On 31 October 2005, Ibrahim Manik had debts of Rf1,266,308.43.

      Vakaru Moosa Ahmed - soft loans from president
    Vakaru Moosa Ahmed
    Ex-Member for Vaavu atoll
    Moosa Ahmed (Vakaru Moosa)
    Vakaru house
    Galolhu, Male'
    Debt Rf1,186,094.03 (US$93,026)
    In 1996, he borrowed Rf500,000 at interest rate of 6% to be paid within 18 months. Although he had not repaid the loan at the end of the 18 month term, he was given another loan of over Rf400,000 in 2001. On 31 October 2005, his outstanding debt from these two loans amounted to Rf1,186,094.03.

      abdulla kamaludeen, minister and soft loans from president
    Abdulla Kamaludeen
    Minister of Fisheries, Agriculture & Environment

    Ex-Member for Male'
    Abdullah Kamaludeen
    Everlast house
    Machangoalhi, Male'
    Debt Rf923,779.50 (US$72,453)
    Kamaludeen borrowed a loan of Rf750,000 in 2002 to be paid within a five years and he has repaid in instalments at various times a total of Rf13,772. On 31 October 2005, he had an outstanding debt, including interest due to late payments, of Rf923,779.50.

      kelaa ahmed nizam - soft loan from president
    Kelaa Ahmed Nizam
    Ex-Member for Haa Alif atoll
    Ahmed Nizam
    Dhiggaruge
    Machangoalhi, Male'
    Debt Rf708,400.03 (US$55,560)
    In 1998 and 2002, Ahmed Nizam borrowed two loans of Rf240,000 and Rf500,000 to be paid within five years. He paid part of the 1998 loan and there was an outstanding debt of Rf99,267.92 on 31 October 2005. He has not repaid any of the 2002 loan by 31 October 2005 when his debts from the two loans totalled Rf708,400.03.

    Ex-Member for Haa Alif atoll
    Adam Abdul Rahman (Vashafaru Adambe)
    Vashafaru
    Galolhu, Male'
    Debt Rf703,802.76 (US$55,200)
    On 2 November 1997, Adam Abdul Rahman borrowed a loan of Rf500,000 to be paid within 5 years. He had repaid Rf91,600 when the five year term expired. On 31 October 2005, because of failure to repay the loan on time, he had accumulated debts of Rf703,802.76.

      hathifushi shakir - soft loans from the president
    Hathifushi Shakir
    Ex-Member for Kaafu atoll
    Hathifushi Abdullah Shakir
    Baikandige-aage
    Henveiru, Male'
    Debt Rf663,611.84 (US$52,047)
    Abdullah Shakir borrowed a loan of Rf500,000 in 2001 to be paid within 5 years and he has not made any repayments. On 31 October 2005 his accumulated debt was Rf663,611.84.

      abdulla maseeh mohamed - special assistance loan
    Abdulla Maseeh Mohamed
    Member for Gnaviyani atoll
    Abdullah Maseehu Mohamed
    Lileemaage
    Henveiru, Male'
    Debt Rf656,261.54 (US$51,471)
    In 2001, Maseehu Mohamed borrowed a loan of Rf500,000 to be paid within five years and the term will expire early 2006. Up until now he has not made any repayments. On 31 October, 2005 his accumulated debt was Rf656,261.54.
    When the main budget of 2005 was discussed in committee, he moved to hurry the passing of the bill. Was it because others might find his debt among the loan details?

      Ismail Zahir
    Ismail Zahir
    Ex-Member for Dhaalu atoll
    Ismail Zahir
    Agi
    Henveiru, Male'
    Debt Rf583,041.10 (US$45,728)
    Ismail Zahir borrowed Rf500,000 in 2003 to be paid within five years but he had made no repayments by 31 October 2005. His loan debt, including accumulated interest, was Rf583,041.10

      Hiyalee Mohamed Rasheed - soft loan from the president
    Hiyalee Mohamed Rasheed
    Ex-Member for Seenu atoll
    Mohamed Rasheed (Hiyalee)
    Light star
    Henveiru, Male'
    Debt Rf569,901.51 (US$44,698)
    In 1999, Rasheed took a loan to be repaid within five years and that term has now expired. His debt was Rf569,901.51 on 31 October 2005.

      ahmed mohamed - soft loan from the president
    Ahmed Mohamed
    Member for Lhaviyani atoll
    Ahmed Mohamed
    Velabulige
    Machangoalhi, Male'
    Debt Rf526,588.56 (US$41,301)
    In 1999 Ahmed Mohamed borrowed a loan to be repaid within 5 years and that term has now expired. His loan debt was at Rf526,588.56 on 31 October 2005.

      izzathu sidhugee - soft loan from the president
    Izzathu Sidhugee
    Ex-Member for Gaaf Dhaal (south Huvadhu) atoll
    Ahmed Izzath Sidgee
    Gofi
    Galolhu, Male'
    Debt Rf367,506.26 (US$28,824)
    He has borrowed a loan Rf400,000 to be paid within 5 years. On 31 October 2005 his debt was Rf367,506.26.

      fathimath sheereen - soft loan from the president
    Fathimath Sheereen
    Ex-Member for Gaaf Alif (north Huvadhu) atoll
    Fathmath Shireen
    Sherin
    Maafannu, Male'
    Debt Rf315,035.21 (US$24,708)
    Fathmath Shireen borrowed a huge loan of Rf1.5 million (US$117,647) in 2002 to be repaid within 5 years. She has made repayments regularly and on 31 October 2005 she owed the comparatively small amount of Rf315,035.21.

      ibrahim siraj - soft loan from the president
    Ibrahim Siraj
    Member for Noonu atoll
    Ibrahim Siraj
    Neeloafaruge
    Holhudhoo island, Noonu atoll
    Debt Rf300,000.00 (US$23,529)
    Siraj borrowed a loan of Rf300,000 this year and he had not made any repayments by 31 October 2005.




    Presidential special assistance loans:
    The Three Largest Loans

      adam zahir - maldives major-general of national security service militia and chief of police
    Maldives police chief and NSS major-general
    Adam Zahir
    Chief of Police Adam Zahir
    Vavathi
    Maafannu, Male'
    Three consecutive loans total Rf8 million (US$627,450)
    No repayments

      mohamed rasheed ibrahim, maldives chief judge
    Chief Judge of Maldives High Court
    Mohamed Rasheed Ibrahim
    Chief Justice Mohamed Rasheed Ibrahim
    A single loan: Rf5.9 million (US$462,745)
    A large part of this loan has been repaid by the time the 5 year period ended. On 31 October 2005, the chief justice's debt was Rf800,000 (US$62,745)

      abdul rasheed hussein - soft loan from the president
    Abdul Rasheed Hussein
    Abdul Rasheed Hussein
    Uraha
    Maafannu, Male'
    Loan: Rf4.3 million (US$337,254)
    Partially repaid and there is about a year before the term of the loan expires.
    His debt was Rf2.1 million (US$164,705) on 30 October 2005.





    Those who have made no repayments, and owe over Rf50,000 (US$4,000)

    Among those who borrowed loans from the presidential special assistance loan account no. 2060, there are many who owe large amounts because of their failure to comply with the conditions of repayments.

    In the list below are those who have not made any repayments, and those who made repayments but owe over Rf50,000 on 31 October 2005.

    Ibrahim Ahmed Manik
    Furhani-aage house
    Maafannu, Male'
    He received a loan of Rf250,000 (US$19,607) in 1999 to be repaid within 5 years. He had already received a loan of Rf350,000 (US$27,450) about 2 years before.
    He had repaid Rf72,900.00 (US$5,717) towards the first loan. However, because of his failure to comply with the terms and conditions of repayment, his accumulated debt for this loan was Rf461,803.33 (US$36,219) on 31 October 2005.
    Ibrahim Ahmed Manik had a total accumulated loan debts of Rf835,836.97 (US$65,555) on 31 October 2005.

    Abida Gasim
    Kudhihithigasdhoshuge
    Maafannu, Male'
    She received a loan of Rf200,000 (US$15,686) in 2004, and had already received a similar loan of Rf200,000 on 3 February 2003.
    Abida Gasim had repaid Rf26,600.00 (US$2,086) towards this loan. However, her failure to comply with the repayment conditions gave her accumulated debts of Rf313,333.64 (US$24,575) from her 2003 loan on 31 October 2005.
    Her combined loan debt from the two loans was Rf525,024.40 (US$41,178) on 31 October 2005.

    Mohamed Naseem
    Crimson
    Henveiru, Male'
    He received a loan of Rf45,000 (US$3,529) in 2002. He had been granted a loan of Rf300,000 (US$23,529) about eight months before on 10 April 2004 (translator's note: at least one of the dates is incorrect).
    He repaid Rf97,600.00 (US$7,654) of the first loan. However, his failure to comply with the repayment dates causing a debt of Rf261,208.04 (US$20,486) from the first loan.
    On 31 October 2005 Naseem's total accumulated loan debt from the two loans was Rf314,724.29 (US$24,684).


    Name and Address
    Year loan received Term of the loan
    Loan amount
    Loan debt on 31 October 2005

    Police Chief Adam Zahir,
    Vavathi, Male'

    2004

    5 years

    Rf4 million
    (US$313,725)

    Rf4,264,533
    (US$334,473)

    Police Chief Adam Zahir,
    Vavathi, Male'

    2003

    5 years

    Rf2 million
    (US$156,862)

    Rf2,295,964
    (US$180,075)

    Police Chief Adam Zahir,
    Vavathi, Male'

    2003

    5 years

    Rf2 million
    (US$156,862)

    Rf2,233,350
    (US$175,164)

    Umar Zahir,
    Merrygold, Maafannu Male'

    2005

    5 years

    Rf2 million
    (US$156,862)

    Rf2,079,197
    (US$163,074)

    Zahir Adam,
    Beach Corner, Maafannu, Male'

    2005

    5 years

    Rf1.5 million
    (US$117,647)

    Rf1,560,554
    (US$122,396)

    Mohamed Ali,
    The Last, Maafannu, Male'

    2003

    5 years

    Rf1 million
    (US$78,431)

    Rf1,105,914
    (US$86,738)

    Mohamed Ali,
    The Last, Maafannu, Male'

    2004

    5 years

    Rf800,000
    (US$62,745)

    Rf855,751
    (US$67,117)

    Samaru Blue Ibrahim Manik,
    Endherimaage, Maafannu, Male'

    2001

    5 years

    Rf600,000
    (US$47,058)

    Rf777,096
    (US$60,948)

    Hathifushi Abdulla Shakir,
    Baikandige-aage, Henveiru, Male'

    2001

    5 years

    Rf500,000
    (US$39,215)

    Rf663,611
    (US$52,047)

    Abdulla Maseeh Mohamed,
    Lillymaage, Henveiru, Male'

    2001

    5 years

    Rf500,000
    (US$39,215)

    Rf656,261
    (US$51,471)

    Ahmed Nizam,
    Dhiggaruge, Machangolhi, Male', and Rabi-ee Manzil, Henveiru, Male'

    2002

    5 years

    Rf500,000
    (US$39,215)

    Rf609,132
    (US$47,775)

    Ahmed Shareef,
    Velagali, Maafannu, Male'

    2002

    5 years

    Rf500,000
    (US$39,215)

    Rf606,244
    (US$47,548)

    Ismail Zahir,
    Agi, Henveiru, Male'

    2003

    5 years

    Rf500,000
    (US$39,215)

    Rf583,041
    (US$45,728)

    Abdul Sattar Mohamed,
    Saya, Galolhu, Male'

    2004

    5 years

    Rf500,000
    (US$39,215)

    Rf522,734
    (US$40,998)

    Abdul Sattar Mohamed,
    Saya, Galolhu, Male'

    2005

    5 years

    Rf150,000
    (US$11,764)

    Rf150,197
    (US$11,780)

    Mohamed Unaif,
    Randhi, Maafannu, Male'

    2004

    5 years

    Rf350,000
    (US$27,450)

    Rf383,178
    (US$30,053)

    Mohamed Unaif,
    Randhi, Maafannu, Male'

    2005

    5 years

    Rf350,000
    (US$27,450)

    Rf360,543
    (US$28,277)

    Ibrahim Ahmed Manik,
    Furahani-aage, Maafannu, Male'

    1999

    5 years

    Rf250,000
    (US$19,607)

    Rf374,033
    (US$29,335)

    Mohamed Saleem,
    Samanthiri, Galolhu, Male'

    1997

    14 months

    Rf200,000
    (US$15,686)

    Rf319,772
    (US$25,080)

    Aminath Jameel,
    Dhoores, Maafannu, Male'

    2004

    5 years

    Rf300,000
    (US$23,529)

    Rf318,755
    (US$25,000)

    Ibrahim Sabir,
    Irakuge, Machangoalhi, Male'

    2005

    5 years

    Rf300,000
    (US$23,529)

    Rf310,408
    (US$24,345)

    Abdul Azeez Moosa,
    Udhares, Fares island, Gaaf Dhaal (south Huvadhu) atoll

    2005

    5 years

    Rf300,000
    (US$23,529)

    Rf310,053
    (US$24,317)

    Dr Hussein Niyaz,
    Niyas, Henveiru, Male'

    2005

    5 years

    Rf300,000
    (US$23,529)

    Rf310,053
    (US$24,317)

    Ibrahim Siraj,
    Niloafaruge, Holhudhoo island, Noonu atoll

    2005

    5 years

    Rf300,000
    (US$23,529)

    Rf303,000
    (US$23,764)

    Mohamed Nashid,
    Hinton, Maafannu, Male'

    2002

    5 years

    Rf200,000
    (US$15,686)

    Rf233,474
    (US$18,311)

    Abida Gasim,
    Kudhithigasdhoshuge, Maafannu, Male'

    2004

    5 years

    Rf200,000
    (US$15,686)

    Rf211,690
    (US$16,603)

    Hussein Rasheed Yusuf,
    Muiri, Maafannu, Male'

    2004

    5 years

    Rf125,000
    (US$9803)

    Rf137,815
    (US$10,809)

    Abdulla Aseeru, Adduvas (formerly)

    2002

    5 years

    Rf50,000
    (US$3,921)

    Rf59,306
    (US$4,651)

    Mohamed Naseem,
    Crimson, Henveiru, Male'

    2002

    5 years

    Rf45,000
    (US$3,529)

    Rf53,516
    (US$4,197)






    Employees of president's office and palace who received loans and did not repay according to the terms

    Employees of the president's offices and palace who received president's special assistance loans and did not repay their debts or were unable to pay debts, now owe the government large amounts of money. They are:

    Ibrahim Rushdie
    Hanithila
    Maafannu, Male'
    Debt Rf1,119,449.40 (US$87,799)
    In each of the three years from 2001 to 2003, Rushdie received a loan. The first loan was Rf600,000 (US$47,058), the second loan was Rf200,000 (US$15,686), and the third loan was Rf300,000 (US$23,529).
    Although he has made some repayments he had an outstanding loan debt of Rf1,119,449.40 on 31 October 2005.

      hussein mohamed didi - soft loan from the president
    Hussein Mohamed Didi
    Executive director
    Palace affairs

    Hussein Mohamed Didi
    Shabnamlodge
    Henveiru, Male'
    Debt Rf989,907 (US$77,639)
    He borrowed a loan of Rf600,000 (US$47,058) in 1997 to be paid within ten years and another loan of Rf300,000 (US$23,529) in 2003 to be repaid within 6 years. As result of failure to repay, his accumulated loans debt, including interest, was Rf989,907.30 on 31 October 2005.

      abdulla shareef - soft loan from the president
    Abdulla Shareef
    Director-general
    Property management
    President's office
    Abdulla Shareef
    Echo
    Maafannu, Male'
    Debt Rf892,111.23 (US$69,969)
    He borrowed two loans and the term of one loan has now expired. The term of the second loan will expire in April 2006. He has been making repayments, but not according to the terms and conditions. As a result he had an accumulated debt of Rf892,111.23 on 31 October 2005.
      adam naeem - soft loan from president
    Adam Naeem
    Executive director
    Presidential palace
    Adam Naeem
    Hudhu-asurumaage
    Maafaanu, Male'
    Debt Rf809,707.02 (US$63,506)
    Adam Naeem borrowed Rf600,000 (US$47,058) in 1997 at an interest rate of 6% to be repaid within 5 years. The repayment term of the loan expired in 2002, and his loan debtwas Rf809,707.02 on 31 October 2005.
    Two other members Adam Naeem's house received loans. Umair Shafeeu received a loan of Rf1 million (US$78,431)and Ahmed Shafeeu received a loan of Rf1 million (US$78,431) in 2004 from the president's special assistance loan account. Neither of these men are government employees.


    Abida Gasim

    Kudhihithigasdhoshuge
    Maafannu, Male'
    Debt Rf525,024.40 (US$41,178)
    Abida Gasim received two loans worth a combined total of Rf500,000 (US$39,215). In 2003, she received a loan of Rf300,000 (US$23,529) and in 2004 Rf200,000 (US$15,686). She has repaid Rf26,600.00 (US$2,086) towards the loan she took on 3 February 2003, but no payments had been made towards the second loan by 31 October 2005. Her combined loan debt remained at Rf525,024.40 on 31 October 2005.

      ismail faiz - soft loan from president
    Ismail Faiz
    Director general
    Presidential palace

    Ismail Faiz
    Two Friends house
    Maafannu, Male'
    Debt Rf416,571.21 (US$32,672)
    On 24 August 1995, Ismail Faiz borrowed Rf500,000 (US$39,215) at an interest rate of 6% to be repaid within 6 years. In August 2001, the term given to repay this loan expired. He has made some repayments but his loan debt remained at Rf416,571.21 on 31 October 2005.

      abdul gayyoom hassan
    Abdul Gayyoom Hassan
    Director general
    Special duties
    Abdul Gayyoom Hassan
    Muivilu
    Maafannu, Male'
    Debt Rf328,620.29 (US$25,774)
    The loan of Rf375,000 (US$29,411) he borrowed in 2001, to be repaid in five years, will expire in January 2006. On 31 October 2005 he had an outstanding debt of Rf328,620.29.

      abdul shakoor ali - soft loan from the president
    Abdul Shakoor Ali
    Director general
    Special duties

    Abdul Shakoor Ali
    Aasthaanaa
    Maafannu, Male'
    Debt Rf302,254.59 (US$23,706)
    Abdul Shakoor Ali borrowed Rf900,000 (US$70,588) in 1992 at an interest rate of 6% to be repaid within ten years and six months. The term given to repay the loan has expired. He has repaid most of it, but on 31 October 2005 his debt was Rf302,254.59.

    Ibrahim Hussein
    Nila
    Galolhu, Male'
    Debt Rf157,928.48 (US$12,386)
    Ibrahim Hussein borrowed Rf900,000 (US$70,588) in 2000 to be repaid within five years, and that time has now expired. He has repaid most of it but on 31 October 2005 his loan debt was Rf157,928.48.

     
    Mohamed Asim
    Maldives High Commissioner for Sri Lanka

    Dr Mohamed Asim

    Vaijeheyge
    Galolhu, Male'
    Debt Rf76,974.64 (US$6,037)
    The term given to repay his loan expired at the beginning of 2005. He has repaid a large part of the loan but on 31 October 2005 his loan debt was Rf76,978.64.

    Aishath Zunaira
    Haafusvilla
    Maafannu, Male'
    Debt Rf53,580.74 (US$4,202)
    Aishath Zunaira borrowed Rf100,000 (US$7,843) in 1997, and the term given to repay the loan have expired. On 31 October 2005, her loan debt was Rf53,580.74.



    Repay if and when you feel like it!

      zahir hussein editor and owner of Haveeru news media
    Zahir Hussein
    owner/editor Haveeru
    Dr Mohamed Zahir Hussein
    (translators' note: Owner/editor of Haveeru news media)
    Debt Rf417,327.58 (US$32,731)
    In 1993, Mohamed Zahir Hussein borrowed a large loan of Rf487,166.63 (US$38,209) at an interest rate of 6% and there is no indication in the contract when this loan should be repaid. As a result of his failure to repay the loan on time, he has made payments (larger than the original loan) totalling Rf550,000 (US$43,137). However, his loan debt was still Rf417,327.58 on 31 October 2005.




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