The ruling People's National Congress (PNC) parliamentary group leader Ibrahim Falah has gloated about his properties to mock the media over the coverage of his financial statement.
Falah currently has four plots of land in his name. They are three plots in Raa Innamaadhoo and one plot in Male'.
Falah said he spent MVR 4 million for the plot in Male', but did not disclose the amounts he spent for the plots in Innamaadhoo.
In response to the coverage on his financial statement, the ruling party MP for Inguraidhoo constituency said he had purchased three more plots from Innamaadhoo and one plot from Hulhumale'.
"There are three plots in the process of changing the registry and the land bought in Hulhumale' is also in the process of changing the registry," he posted on X.
"I tried very hard to finish the process to include the new properties in this financial statement."
Falah said he was gloating about the new properties because journalists might be stunned when his financial statement is disclosed next year.
"I shared this update that perhaps by the grace of Allah, if I am alive next year and when the financial statement is disclosed, a journalist might get too stunned and fall into the ocean," he wrote.
Falah's land properties
- Maafannu Asurukuri in Male' - MVR 4 million
- Hulhumale' plot - value undisclosed
- Faiy in Raa Innamaadhoo - value undisclosed
- Asuruhiya in Raa Innamaadhoo - value undisclosed
- Falak in Raa Innamaadhoo - free land from the state for housing needs
- Innamaadhoo plot - value undisclosed
- Innamaadhoo plot - value undisclosed
- Innamaadhoo plot - value undisclosed
According to Falah's financial statements, he bought the land in Male' in 2017. He got the free land in Innamaadhoo in 2004. He purchased two more plots in Innamaadhoo in 2020 and 2022.
Falah earns MVR 900,000 annually as salary from the People's Majlis. He also earned MVR 900,000 as income from his businesses. He also claimed to have earned MVR 3.2 million from rent. This means he had a total income of MVR 5,076,000 in one year.
Falah has shares in three companies. They are Marine Design Maldives Pvt Ltd with 90 percent stake, Sun Holidays Pvt Ltd with 90 percent stake and Island Trade Pvt Ltd with 80 percent stake.
Falah's companies
Marine Design Maldives Pvt Ltd
- Business Name: None
- Business Activities: None
- Business Permit: None
- Business License: None
- Shareholders: Ibrahim Falah, Reesha Haleem, Mohamed Jinan
Sun Holidays Pvt Ltd
- Business Name: JJ Construction, City Medical Centre, Scuba Paradise, Ocean Mist, Island Tour Maldives
- Business Activities: None
- Business License: Liquor Import License (Expired)
- Business License: None
- Shareholders: Ibrahim Falah, Reesha Haleem, Mohamed Jinan
Island Trade Pvt Ltd
- Business Name: Mega Point, Mega Living
- Business Activities: Household Appliance Wholesale, Petrol and Diesel sale
- Business Permit: None
- Business License: None
- Shareholders: Ibrahim Falah, Reesha Haleem, Mohamed Jinan
Falah's financial statements show that he has little money in his bank accounts compared to his income. He had only MVR 111,073 in his four MVR accounts and only USD 300 in his two USD accounts.
Falah's bank accounts
- Bank of Maldives - MVR 17,521.78
- Bank of Maldives - MVR 91,000
- State Bank of India - MVR 444
- Maldives Islamic Bank - MVR 2,108.14
- Bank of Maldives - USD 139.50
- Maldives Islamic Bank - USD 161.52
According to the financial statement, Falah took out a large loan of MVR 15.7 million from the Bank of Maldives in February 2025. He has already paid MVR 496,904 for the loan this year. The outstanding amount is MVR 15.2 million.
Falah took a Visa Gold Card and an Amex Gold Card from the Bank of Maldives. However, he had not used the cards. The credit limit of the Visa Gold Card is USD 9861 and the credit limit of the Amex card is MVR 150,000.
Only one vehicle is registered in Falah's name. That is a Honda Airblade motorcycle he bought in 2020 for MVR 59,500.
