Local

Loan sharks & debt collectors – A new class of criminals

Published

2 years ago

18/11/2021

MNN

The current recession in the wake of the COVID-19 pandemic has meant that the once flourishing economy has been brought to its knees with the nations biggest source of income being forced to close. This has meant that a significant proportion of the working population experienced a loss of income in some form.

According to state authorities, more than 40% of the working population experienced a loss to their income. This factor combined with the fact that the capital of the Maldives being one the most expensive cities to live in in comparison to the average income of a state employee, the living conditions of the general population has been undeniably lowered.

The ensuing desperation to house and feed their families have given way for a much more sinister wave of criminals who prey on the desperate. Illegal loan sharks have taken advantage of the desperation to lure hundreds of young and old people into high interest illegal loans.

According to one man who spoke to MNN on the condition of remaining anonymous, he got himself into such a situation after he “borrowed” money from a man recommended to him by a colleague. Ahmed (not real name) revealed that he was forced to borrow money during the lockdown phase of the COVID-19 pandemic to pay rent. The man who works in the private sector had no means to pay his rent and food as his income was disrupted due to the lockdown.

Ahmed was promised that he could pay back the money one month after the lockdown had ended. But once the lockdown was over, the man immediately contacted him and demanded full return and more of the borrowed money. The loan shark claimed that he suffered losses due to lending the money and demanded almost twice the sum of which he lent.

Ahmed stated that few weeks after that he received visitors from the loan shark who demanded immediate return of the money. The men threatened to attack Ahmed and his family if the money and the “compensation” was not returned in one weeks’ time.

Ahmed stated that this time, he was forced to borrow from a family friend to pay back the debt to the loan shark. He also stated that his colleague who introduced him to the loan shark also had a similar experience once the lockdown had ended and the loan shark had sent his debt collectors.

While investigating this issue, MNN came across additional 3 cases where people were forced to borrow from loan sharks and had to face debt collectors. They in turn claimed that they knew others who were also facing a similar situation.

This is but one such story of what could possibly be hundreds of cases where young and desperate men and women are lured into debt traps by loan sharks. While there has been no officially recorded cases of anyone being killed by debt collectors or loan sharks, based on the escalation of crimes in the Maldives, it is just a matter of years or less before people are killed over their debts. State authorities and the central bank of the nation should take the initiative in raising awareness on these illegal loan sharks and the dangers that follow from racking up debts with the loan sharks before any lives is lost.

Local

Nasheed to form new party

Published

11 months ago

17/05/2023

The main ruling Maldivian Democratic Party (MDP)’s leader Mohamed Nasheed has decided to form a new political party.

Nasheed initiated a separate political movement within MDP, ‘Fikuregge Dhirun’, following his loss in MDP’s presidential primary held back in January. After major conflicts with the government and its policies – all lawmakers from the faction tendered their resignation from MDP on Wednesday.

The move came after Central Henveiru MP Ali Azim was expelled from the party on Tuesday and banned from rejoining for at least one year over involvement in opposition political activities surrounding the Chagos archipelago dispute.

The 12 members who resigned from MDP on Wednesday are;

Parliament’s Deputy Speaker, North Galolhu MP Eva Abdulla
Ungoofaaru MP Mohamed Waheed (Wadde)
North Maafannu MP Imthiyaz Fahumy (Inthi)
West Henveiru MP Hassan Latheef
Hulhudhoo MP Ilyas Labeeb
North Kulhudhuffushi MP Yasir Abdul Latheef
Vilufushi MP Hassan Afeef
Central Maafannu MP Ibrahim Rasheed (Bonde)
Madaveli MP Hussain Firushan
Thoddoo MP Hassan Shiyan (Gita)
North Mahchangoalhi MP Mohamed Rasheed (Boadhigu)
Gadhdhoo MP Ahmed Zahir
All 12 members are close acquittances of Nasheed. MP Hassan Latheef, during a meeting at Bodufenvalhuge on Wednesday, announced Nasheed’s decision to form a new political party. The meeting was attended by supporters of Nasheed.

Should Nasheed form a new political party, that party would be the largest opposition party in terms of members in the parliament, thereby, the minority party. The minority party at present, opposition PPM-PNC coalition has only eight members in the parliament.

Despite the resignation of the 12 MPs, President Ibrahim Mohamed Solih continues to hold full control of the Parliament with 56 MPs.

Source(s): sun.mv

Local

MPs loyal to Nasheed leave MDP

Published

11 months ago

17/05/2023

Multiple members of the main ruling Maldivian Democratic Party (MDP) loyal to the party’s leader Mohamed Nasheed have left the party.

The members who resigned from MDP include 12 MPs. They include Deputy Speaker Eva Abdulla, MP Mohamed Waheed, MP Imthiyaz Fahmy (Inthi), MP Hassan Latheef, MP Ilyas Labeeb, MP Yasir Abdul Latheef, MP Hassan Afeef, MP Ibrahim Rasheed (Bonde), MP Hussain Firushan, MP Hassan Shiyan, MP Mohamed Rasheed (Boadhigu), and MP Ahmed Zahir.

They submitted their resignation letters Wednesday.

The move comes after MDP’s parliamentary group had requested action against Inthi, Hassan Latheef, Ilyas, Yasir, and Central Henveiru MP Ali Azim earlier this week, for forming an alliance with the opposition Progressive Party of Maldives (PPM), Jumhoory Party (JP) and Maldives National Party (MNP), after accusing the government of failure to protect the interests of the Maldivian people in the case lodged with the International Tribunal of the Law of the Seas (ITLOS) over the disputed maritime territory between Maldives and Mauritius.

The party’s disciplinary committee decided to expel Azim from the party on Tuesday.

They are all members of Nasheed’s ‘Fikuregge Dhirun’ faction.

However, Nasheed has yet to resign from the party.

Despite the resignation of the 12 MPs, President Ibrahim Mohamed Solih continues to hold full control of the Parliament with 56 MPs.

Source(s): sun.mv

Local

The Cambodian Prime Minister arrives in the Maldives on an official visit

Published

1 year ago

15/01/2023

The Prime Minister of the Kingdom of Cambodia, Samdech Akka Moha Sena Padei Techo Hun Sen, arrived Sunday morning on an official visit to the Maldives at the invitation of H.E. President Ibrahim Mohamed Solih. It is Samdech Techo Prime Minister Hun Sen’s first visit to the Maldives.

The Cambodian Prime Minister and accompanying delegation were received at Velana International Airport (VIA) by the Minister of Foreign Affairs, Abdulla Shahid (ODRI). The government will hold a ceremony on Monday to officially welcome the Cambodian Prime Minister to the Maldives.

During the visit, President Solih would meet with Samdech Techo Prime Minister Hun Sen and hold official talks on strengthening bilateral cooperation, followed by the exchange of memoranda of understanding (MoUs) between the two countries. President Solih and the Cambodian Prime Minister would also deliver a joint statement on the outcomes of their discussions.

The Maldives and Cambodia established diplomatic relations on September 21, 1995.

Source(s): President Office.