Privatisation and Corporatisation Board (PCB) has suspended Housing Development Corporation (HDC) Managing Director Ibrahim Fazul Rasheed and all board members except Chairman Ahmed Nasif. This comes as the Maldives Police Service investigates allegations of corruption in the allocation of land under the Binveriya Scheme.

The allegations leading to the suspension claim that land was given to ineligible individuals. Speaking to press on Wednesday night Fazul denied any wrongdoing, stating that HDC only verifies applications while land allocation decisions are made by the Ministry of Housing, Land, and Urban Development.

Fazul explained that the issue arose from a dispute between two applicants for the same plot, which was sent to the Housing Ministry for verification. He dismissed the claims as false and assured that HDC has followed all rules.