Tuesday 19th Oct 2021
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MP Mohammed Saeed

Govt Will Mortgage Houses, Cemeteries At This Rate: Saeed

Parliament representative for Maavashu constituency and former Minister of Economic Development Mohamed Saeed has criticized the government's methods of acquiring funds, stating that at this rate, the government will soon be mortgaging people's homes and cemeteries.
Saeed made his statement in a tweet regarding the government's decision to issue Sukuk by using schools as security.
Dhiyares has been informed that the government will be using ten schools as security for Sukuk; Iskandhar School, Thaajuddeen School, Ghiyasuddin International School, Imaduddin School, Kalafaanu School, Hiriya School, Center for Higher Secondary Education, English Preparatory and Secondary School, and Male' English School.
Buildings have previously been used to sell Islamic Sukuk. Dharumavantha Hospital established during former President Yameen Abdul Gayoom's regime was used as an asset to issue Sukuk.
Minister of Finance Ibrahim Ameer has stated that T-bills totaling MVR 350 million have been sold by utilizing Velaanaage and the Olympus building as security.
When questioned regarding the use of schools to issue Sukuk, Spokesperson at the President's Office Mabrook Azeez confirmed that Sukuk are being issued by use of schools.
Saeed tagged President Ibrahim Mohamed Solih in his tweet, which further read that the Finance Ministry's inability to find an alternative measure is shameful.