Financial Statements of Three Candidates Meets Legal Requirements, Five Candidates Fined

MV+ News Desk | December 12, 2023

The Elections Commission of Maldives  (ECM) has confirmed that the financial statements of President Dr. Mohamed Muizzu from PNC, former president Ibrahim Mohamed Solih from MDP, and Qasim Ibrahim from JP have met the legal requirements following September’s presidential election.

ECM’s Vice Chairperson Ismail Habeeb stated that the financial statements of the three mentioned candidates adhered to the necessary legal standards. 

However, he highlighted that all other candidates failed to meet the requirements, with deficiencies in the submission of essential documents such as bills and bank statements.

The five candidates facing fines for non-compliance with legal requirements are Ilyas Labeeb (Democrats), Hassan Zameel (Independent), Faris Maumoon (Independent), Mohamed Nazim (Maldives National Party), and Umar Naseer (Independent). 

Each candidate will be fined MVR 20,000, while their election agents will face fines of MVR 6,000. The imposed fines must be settled within 30 days, according to Habeeb.

The deadline for presidential candidates to submit their financial statements was November 30th.

Presidential candidates are mandated to disclose details of election-related expenses, funding sources, and bank account statements. Additionally, they are required to reveal information about individual donors, specifying the exact donations and providing receipts for authentication.

The Elections Act stipulates the imposition of fines as the initial course of action if candidates fail to submit their financial statements in accordance with the law.

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