Shamheed: I Will Repay Court-Mandated Loan Despite Not Taking It for Personal Use
12 ނޮވެމްބަރު 2026 | ބުރާސްފަތި 08:31Member of Parliament Ahmed Shamheed has provided assurances that he will settle the outstanding payments ordered by the Civil Court regarding a loan guarantee provided to Duplex Private Limited by Maldives Islamic Bank (MIB). While maintaining that the loan was not for personal use, Shamheed affirmed his commitment to fulfilling his legal obligations, though he alleged that the timing and nature of the case are politically motivated.
MP Member Shamheed speaks at a press conference held by the MDP. | Raajje MV
Ahmed Shamheed, the Member of Parliament for the South Hulhumalé constituency, has provided full assurance that he will settle the debt mandated by a Civil Court ruling. He clarified that while the loan in question was not taken for his personal use, he remains committed to fulfilling the legal obligation and clearing the payment in accordance with the court's judgment.
The Civil Court has ruled in favor of Maldives Islamic Bank (MIB) in a lawsuit filed against Duplex Private Limited, after the company defaulted on a USD 500,000 credit facility.
The court ruling mandates that the outstanding loan balance of USD 36,647.76, along with accumulated monthly late payment penalties and charitable contributions, must be settled within the next six months.
The court issued this ruling against Duplex Company and five individuals, including Shamheed, who served as guarantors for the loan.
In a statement released regarding the matter, Shamheed clarified that Duplex Private Limited was a company established to conduct business alongside a group of his former associates. Shamheed further stated that although the loan was not obtained for his personal use, he provided full assurance that he would settle the legally mandated debt in its entirety, in accordance with the court's judgment.
Shamheed noted that he has personally continued to make payments on the loans to this day, following the default of the original borrowers. Furthermore, Shamheed alleged that there is a political motive behind the matter and issued a strong condemnation of the actions taken against him.
Shamheed stated that despite the loan dispute being filed in Civil Court, the management of Duplex failed to attend to the matter or provide a response to the court.
