The Managing Director of Housing Development Corporation (HDC) Ibrahim Fazul Rasheed has stepped down from the post amid corruption allegations involving the Binveriyaa Scheme.
On Wednesday, the Housing Development Corporation (HDC) came under heavy scrutiny after it emerged that land plots had been issued to non-recipients under the Binveriyaa Scheme. In response, the entire HDC board, with the exception of its Chairperson, were suspended, along with the corporation’s Managing Director Fazul. The allegations around Fazul are particularly controversial as his brother, Deputy Managing Director of Malé Water and Sewerage Company Pvt. Ltd. (MWSC) Mohamed Fazeel Rasheed is directly implicated in the scandal.
In his resignation letter to President Dr Mohamed Muizzu, Fazul asserted his innocence, denying all allegations made against him during his tenure as HDC’s Managing Director. He said all decisions made on behalf of the company were in alignment with board decisions and policies, and were in the best interest of the company.
Fazul further emphasised that the controversy around the Binveriyaa Scheme was unrelated to him, and expressed hope that the truth regarding the matter would become clear to the citizens at the earliest. He added that he did not wish for the company and the government’s policies to be hindered as a result of the ongoing investigation, and explained that his decision to resign was intended to pave way for an independent investigation into the matter.
“I wish successful days to you and the government,” he concluded in his letter.