Falah’s Financial Disclosure: Ownership of a dollar-earning company, millions in income, and a 21-million-rupee land plot in Hulhumale'!
29 ސެޕްޓެމްބަރު 2026 | އަންގާރަ 19:06Parliamentary Majority Leader Ibrahim Falah established a currency exchange firm and a construction company last year, according to his latest financial disclosure. The statement further reveals that Falah acquired a land plot in Hulhumale' valued at MVR 21 million, supported by a MVR 15 million bank loan, while earning over MVR 4.6 million in total income from business ventures and rental properties during the same period.
PNC PG Leader Ibrahim Falah. | PNC
The financial disclosure of Ibrahim Falah, the Majority Leader of the People’s Majlis and Parliamentary Group Leader of the ruling PNC, has revealed that a company has been established in his name for the purpose of buying and selling foreign currency.
The People's Majlis has published the second-year financial statements of its members on its official website, with the disclosure from MP Falah revealing significant details regarding his business interests and overall financial standing.
According to the financial disclosure, Falah registered and established two new companies last year. These include "Sun Currency Exchange," a firm dedicated to foreign exchange trading, and "Sun Craft Construction," which specializes in construction projects. Falah holds a 90 percent stake in both entities. Furthermore, the disclosure reveals that he remains a shareholder in three additional companies beyond these two new ventures.
In terms of earnings, Falah received MVR 990,000 in salary last year for his service as a Member of Parliament. Additionally, he earned MVR 1.8 million in business profits and MVR 2.8 million in rental income. The financial disclosure also notes that he secured a substantial loan of MVR 15 million from the Bank of Maldives during the same period.
Furthermore, the financial disclosure reveals that Falaah holds ownership of five separate land plots. The most notable among these is a property in Hulhumale', acquired last year for MVR 21 million. In addition to this, his holdings include "M. Asurukuri" in Male', purchased for MVR 4 million, as well as three properties in Innamadhoo: Falak, Fath, and Asuruhiya.
