Civil Court has ordered former Managing Director of Maldive Gas, Abdulla Maumoon to pay over MVR 1.1 million to Maldives Islamic Bank (MIB) over unpaid dues related to a property financing facility.

The ruling, issued on Thursday, pertains to a Diminishing Musharaka property financing agreement between MIB and Maumoon, under which the bank had disbursed MVR 2,250,000. MIB claimed that Maumoon had failed to repay MVR 1,102,067 from the facility, along with an additional MVR 7,498.29 designated as charity, in accordance with Islamic banking principles.

MIB also requested the court to acknowledge that Maumoon’s Rehendi flat, which was part of the collateral for the financing, remained unpaid.

As Maumoon did not respond to the charge sheet, MIB requested the case be heard in his absence, to which the court agreed. Based on the evidence and documents submitted, the court ruled in favour of MIB, confirming that Maumoon was liable to repay the full amount.

The court has given Maumoon a six-month deadline to settle the debt.