Hulhumalé South MP Dr. Ahmed Shamheed has said he will pay off the debt in line with the Civil Court ruling over an unpaid loan that Maldives Islamic Bank (MIB) issued to Duplex Private Limited.
Shamheed made the remarks in a statement issued following the Civil Court verdict delivered on Tuesday. The bank had sued five guarantors of the loan after Duplex failed to make payments as agreed on a USD 500,000 "sale and leaseback facility" issued by MIB. The court ordered the five parties, including Shamheed, to pay the amount within the next six months.
In the statement, Shamheed said Duplex Private Limited was a company he founded with some former friends, and that the loan was taken for the personal use of some of the company's shareholders. He said he had guaranteed the loan with the intention of helping them.
Shamheed said that from the moment he learned the company was not repaying the loan, he spoke to its senior officials and repeatedly asked them to pay. However, as they did not pay, he has been making payments in his personal capacity to date, he said.
He also said that those running the company did not respond to the court after the case was filed, that he was not summoned to appear before the court prior to the verdict, and that he was informed of the case's conclusion by email.
Noting that the people currently running the company have decided to back a candidate who is his political rival, Shamheed said he would not allow matters of personal interest to be politicised to damage his reputation.
"Although this loan was not taken for my own use, I give my full assurance to the dear people of my constituency that, with the help of Almighty Allah, I will pay off this debt legally placed upon me in line with the court's verdict," Shamheed said.
Shamheed is seeking the MDP ticket for the 2028 presidential election.
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