HDC’s MD Fazul resigns amid corruption allegations

The Housing Development Corporation (HDC)’s Managing Director Ibrahim Fazul Rasheed has resigned from the post.

Fazul’s resignation comes while he is accused of being involved in corruption involving the allocation of Binveiyaa Scheme land plots to those who are not listed as recipients. While an investigation is already underway, Fazul, along with the entire HDC board with the exception of its chairperson have been suspended.

During a press conference held Wednesday, Fazul denied any wrongdoing and asserted that his brother, Maldives Water and Sewerage Company (MWSC)’s Deputy Manager Fazeel Rasheed’s direct implication in the case was not linked to him in any way. He emphasised his readiness to address the allegations and assert his innocence, stating that the claims against him are intended to defame him.