President Dr. Muizzu said today that he will look into whether housing loans issued under the Hiyaa finance scheme can be topped up after a citizen raised concern that an approved loan amount had been reduced.
The president made the remarks on the 12th episode of the “Rayyithunge Adhu” (People’s Voice) programme. A citizen who spoke on the programme said that although a loan had been approved under the Hiyaa scheme, they faced difficulties building a house. The citizen said that while loans of up to one million rufiyaa are meant to be issued for house construction in the islands, the amount received after applying was 650,000 rufiyaa.
Responding to the issue, President Dr. Muizzu said the matter had not previously come to his attention, and that it had not proceeded in the way he had decided or intended.
“One million rufiyaa was for houses built in the islands. I know that with six hundred thousand it will not be finished. I will look at the specific case after checking income, whether it was reduced, and refer it to the ministry,” President Dr. Muizzu said.
Three types of loans are issued under the Hiyaa scheme. Under the island financing scheme, loans of up to one million rufiyaa are issued; under the urban financing scheme, up to three million rufiyaa; and under the Fahimahlé financing scheme, loans ranging between six million and 10 million rufiyaa.
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