The Prosecutor General’s Office has submitted an application to the High Court, requesting additional time to determine whether to proceed with corruption charges against former Vice President Abdulla Jihad, who currently serves as the chairperson of the Maldives International Financial Services Authority Board, a body established by the current government.

Jihad, who also served as finance minister, faces charges related to corruption in connection with the Fushidhiggarufalhu Development Project, which was designated as a special tourist zone. The charges claim that Jihad acted in a manner contrary to public or state interest in managing the project.

On July 25, the trial court dismissed the charges, citing investigative deficiencies that prevented the prosecution from moving forward. However, on September 11, Prosecutor General Hussain Shameem filed a new appeal in the High Court, and the case was subsequently taken up by the court.

A High Court division bench, consisting of Justices Mohammad Faisal, Mohamed Saleem, and Fathimath Farheeza, ruled on September 19 that the court could not issue an order for Jihad to appear because the address provided by the PG Office was inaccurate. As a result, the court requested that the PG Office clarify Jihad's current address. The office responded, indicating that Jihad's residence was at M. West View, third floor. However, when court officials attempted to deliver the summons, they were informed that Jihad was not at the specified location.

Due to this, the judges returned the charge sheet to the PG Office, allowing the Prosecutor General the option to re-file the case within 15 days after ensuring Jihad’s presence or clarifying his correct address.

As the 15-day deadline has passed, PG Office media official and public prosecutor Shafiu Ahmed informed One Today that an extension has been requested from the court. He further revealed that authorities have been notified that Jihad is currently outside the country.

The corruption case revolves around a decision made by the Cabinet on November 29, 2011, to enter into a joint venture with a 50% government stake for the development of Fushidhiggarufalhu as a special tourist zone. This decision was based on the premise that the government would not need to fund the project, and the state would receive land rent as part of the deal.

However, during his tenure as finance minister, Jihad allegedly signed an agreement with Prime Capital Maldives Limited that violated the Cabinet's decision. The agreement reduced the state's stake in the joint venture to 25%, down from the originally agreed 50%, without providing any justification for the change.

This alteration is claimed to have resulted in a significant financial loss to the Maldives. According to the PG Office, the state lost USD 604,713,750 in land rent alone over the projected 50-year period, in addition to the losses in business profits that would have accrued from the higher stake.

Had the original cabinet decision been upheld, the government would have secured USD 411,720,000 in land rent and USD 192,993,750 in prime location fees over the same 50-year period.