Ibrahim Fazul Rasheed Resigns as Managing Director of HDC

Ibrahim Fazul Rasheed, the suspended Managing Director of the Housing Development Corporation (HDC), has resigned from his position. Fazul’s resignation follows his suspension, during which allegations surrounding the allocation of plots under the previous government’s 'Binveriya' scheme have drawn public attention.

The controversy emerged after allegations surfaced that certain individuals, who were not included in the official recipient list, were unfairly granted plots. A notable instance involves Fazul’s elder brother, Mohamed Fazeel Rasheed, who allegedly received a plot in Hulhumalé without rightful entitlement.

Documents leaked on social media have fueled the controversy, revealing irregularities in the allocation process. One case indicates that a single plot in Hulhumalé Phase 2 was reportedly allocated to two different individuals, both of whom have since submitted requests to HDC for permission to construct boundary walls.

Further complicating matters, a letter signed by HDC’s Deputy Director Ahmed Aiman and sent to the Housing Ministry in July sought clarification on the rightful recipient of the plot. A response from Housing Ministry’s State Minister Ibrahim Nizam, dated August 15, reportedly stated that according to the ministry’s database, neither of the individuals claiming the plot were eligible recipients under the Binveriya scheme.

In connection with these allegations, Fazul and his brother, who served as Deputy Managing Director at MWSC, have been suspended from their positions. The HDC board members have also been suspended, and the passports of all involved parties have been withheld pending further investigations.

Fazul has denied the allegations