HDC’s CFO Faid and CBO Yameen dismissed

Housing Development Corporation (HDC)’s Chief Financial Officer (CFO) Abdulla Faid and Chief Business Officer (CBO) Ahmed Yameen have been dismissed from their posts.

HDC confirmed their dismissal to Sun.

Faid and Yameen had been in suspension in connection to the ongoing investigation into allegations of corruption in the award of housing from Hulhumale’ under the ‘Binveriya’ housing scheme. HDC, however, did not disclose the specific allegations against Faid and Yameen.

Notably, 15 HDC staff including Faid and Yameen had been suspended back in December over the allegations.

The authorities launched the investigation last year after documents leaked on social media on December 18 appeared to show that multiple people were given land from Hulhumale’ under the ‘Binveriya’ scheme despite not being on the list of recipients released in 2023 during the Maldivian Democratic Party (MDP) administration.

This includes Mohamed Fazeel Rasheed, the deputy managing director of Male’ Water and Sewerage Company (MWSC), and the older brother of Ibrahim Fazul Rasheed, who had then been serving as the managing director of HDC.