President’s first asset declaration shows MVR 1.3m outstanding loan and six‑month income of MVR 327k

President Dr Mohamed Muizzu has declared that he has MVR 1.3 million in outstanding loans and earned MVR 327,024 over the past six months, according to his asset and income declaration released on Monday, the first such disclosure since he assumed office.

According to the declaration, the President received MVR 285,024 as salary, MVR 240,000 as rent from his Hulhumale' rowhouse, and MVR 180,000 from property in M. Fig/Male'. The income from M. Fig was donated by his family.

The statement lists the President’s assets as three plots of land, a rowhouse in Hulhumale', and a car. The land in M. Fig was received as hiba (gift), while the plot in M. Dhimyaath is inherited. He also owns land in his native island, HA. Vashafaru.

Declared asset values:

• Hulhumale' Amber Terrace rowhouse: MVR 5,919,500

• M. Dhimyaath land: MVR 150,000

• Car: MVR 260,000

The President’s BML current account holds MVR 184,845.52, while his BML savings account contains MVR 1.7 million. He also has MVR 1,000 in his Islamic Bank savings account.

The declaration states that the President owes MVR 1.3 million to the Maldives Finance and Leasing Company.

According to the statement, the First Lady received MVR 199,999.98 as allowance over the past six months. A consultant at the Ministry of Health, Family and Welfare received MVR 4,927, while Dhimyaath Pvt Ltd received MVR 78,000 during the same period.

While former President Ibrahim Mohamed Solih disclosed his financial statements annually from the start of his presidency, this is the first time President Muizzu has made his asset declaration public.