Fazul Steps Down, Denies Allegations Over Land Allocation

The suspended Managing Director of Housing Development Corporation (HDC), Ibrahim Fazul Rasheed, announced his resignation yesterday.

Fazul, along with the corporation’s board members—except for the Chairperson—was suspended last Thursday following allegations that HDC had allocated land plots under the ‘Binveriya’ housing scheme to individuals not listed as recipients.

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Confirming his resignation through a post on X, Fazul shared a screenshot of the resignation letter addressed to President Dr Mohamed Muizzu. In the letter, he denied the allegations circulating on social media, asserting that all his actions as MD had been approved by the board and were consistent with corporate policies.

pic.twitter.com/OryIbTPNkB— Fazul Rashyd (@FaZuLRaShYd) December 21, 2024

Fazul also stated that HDC was not involved in transactions related to the ‘Binveriya’ housing scheme and called for a swift investigation to uncover the truth for the public. “I do not wish for the policies of the government and the corporation to be hindered because of this,” he wrote.

He explained that his resignation was intended to facilitate the investigation and ensure the government’s policies could continue without disruption.

The final recipient list for the ‘Binveriya’ housing scheme, published in August 2023, included Fazul’s elder brother, Mohamed Fazeel Rasheed, the Deputy Managing Director of Male’ Water and Sewerage Company (MWSC). However, it marked him ineligible for a plot as he had already received housing under a separate scheme.

Leaked documents reveal a land registry entry for Fazeel, signed by Housing Ministry’s Director General Ahmed Vishan Naseem, dated 11 September 2023, raising further questions about the case.