The financial statements of President Mohamed Muizzu and Vice President Hussain Mohamed Latheef were published on the President’s Office website today, halfway into their five-year term.
The statements released today detail income received over the past six months. Information regarding income earned prior to this period was not included.
According to Muizzu’s financial disclosure, he received MVR 285,024 in salary over the last six months. His Bank of Maldives (BML) current account holds MVR 184,845, while his savings account contains MVR 1,701,470. Additionally, he has MVR 1,000 deposited in a Maldives Islamic Bank (MIB) account.
The President’s assets include his primary residence, Maafannu Dhimyaath, a row house valued at MVR 5.9 million and a plot of land in Haa Alif Vashafaru worth MVR 150,000, an inherited share of Maafannu Fig, and a car valued at MVR 260,000.
In terms of additional income over the past six months, the President earned MVR 240,000 in rent from the Hulhumalé row house and MVR 180,000 from Maafannu Fig. This brings his total reported income for the period to MVR 705,000.
The disclosure also shows an outstanding loan of MVR 1,319,265 with the Maldives Finance Leasing Company (MFLC).
First Lady Sajidha Mohamed reported an income of MVR 282,926 over the last six months. This comprises MVR 199,999 as the official allowance for the President’s spouse, MVR 78,000 in salary from Dhimyaath Private Limited, and MVR 4,927 for consultancy work at the Health Ministry. Sajidha is the first spouse of a sitting president to maintain official government employment during a presidential term.
The Vice President’s financial statement shows he received MVR 314,664 in salary over the past six months. He holds MVR 8,390 in a BML account and MVR 39 in an MIB account, along with USD 397 in an MIB foreign currency account.
The Vice President reported no outstanding loans or debts.
Early in the administration, the President’s Office stated that disclosing the financial statements of senior officials was a key policy. This commitment was reiterated by Undersecretary Mohamed Firzul during a press conference held on the second day of the administration.
However, these disclosures were only made public today, after the administration reached the mid-term mark.
In contrast, during the administration of former President Ibrahim Mohamed Solih, the financial statements of the President, Vice President Faisal Naseem, cabinet ministers, and senior officials were published on January 10, 2019—just 55 days into the term. Official records confirm the publication date of those disclosures.
Months later, the previous administration also published the financial statements of State Ministers and Deputy Ministers on the President’s Office website, maintaining a practice of annual financial disclosures thereafter.
