The Civil Court has ruled against Hulhumalé South MP Dr. Ahmed Shamheed, four other individuals and a company in a case over non-payment of a USD 500,000 loan facility issued to the company by Maldives Islamic Bank (MIB).

The case was filed by MIB after Duplex Private Limited failed to repay, as agreed, USD 500,000 issued to it as a "sale and leaseback facility".

The ruling was issued against Shamheed, who has announced he will contest the upcoming MDP presidential primary, because he is among those who guaranteed the loan.

The individuals named in the ruling are:

  • Ahmed Aslam, Orchidvilla, GA. Dhevvadhoo
  • Ahmed Saeed, Saimaage, GA. Dhevvadhoo
  • Ahmed Shamheed, Plot No. 11088 (Vaareyge), Malé
  • Mohamed Hamdhan Baagir, Fehividhuvaruge, S. Hulhudhoo
  • Mohamed Fiyaz, Seven Sea, GA. Dhevvadhoo

In its ruling on Tuesday, the Civil Court said it was established that MIB had issued a USD 500,000 financial facility and that the "Duplex Cruise" safari vessel had been mortgaged. The court ruled that all obligations, rights and powers granted to the bank under the mortgage agreement will remain in force until all money owed under the facility is paid in full and the facility is closed.

The court ordered the company and the five individuals to pay MIB the outstanding balance of USD 244,826.52 as of the 4th of this month, USD 36,647.76 accrued as charity, the monthly rental accruing on the facility, the charity amounts accruing, and all other money owed but unpaid under the facility agreement. They must pay each month no less than the amount due for that month and settle the debt within six months from 10 November 2026. The ruling was issued in absentia.