In the Maldives, large-scale infrastructure projects are frequently marred by allegations of corruption and undue influence. Most recently, serious concerns have been raised regarding projects and substantial compensation payments awarded by the previous administration to “BIG,” a company in which former Economic Minister Fayyaz Ismail holds significant familial interests.
One of the most notable cases involves the project to construct 61 police stations, which was initially awarded to India’s Indira Projects. Despite an advance payment of $3.6 million, no physical work has commenced on the sites. According to government disclosures, these funds were allegedly diverted to acquire shares in the BIG company and to renovate “Moonimaage,” a property that was reportedly on the verge of being sold to settle the company’s debts.
Furthermore, following a court ruling directing the state to pay 78.5 million Rufiyaa to BIG as compensation over an agreement with MNBC, the previous government disbursed 30 million Rufiyaa. However, this ruling was subsequently overturned by the High Court, calling into question the legitimacy of the initial payment.
While Fayyaz Ismail has denied these allegations, the presence of his close family members in the company’s leadership has fueled accusations of conflict of interest and systemic influence. These incidents underscore the urgent need for greater transparency and accountability in the management of state funds. As Parliament and investigative authorities look into these matters, it remains a fundamental obligation of any government to ensure the responsible and ethical use of the public’s tax money.
