Nizar Critical of Media Reports Declares Foreign Currency Savings Nearly Equal to Salary
North Feydhoo MP Ismail Nizar. | Photo: People’s majlis
Feydhoo North MP Ismail Nizar, who has been critical of media coverage on lawmakers’ financial disclosures, has declared foreign currency savings nearly equivalent to his annual parliamentary salary in his newly published financial statement.
According to the declaration, Nizar reported an income of MVR 908,069.96 over the past year, entirely from his salary as an MP. His bank accounts showed a balance of MVR 71,013.56, while a separate savings account contained USD 54,777.01 (around MVR 844,661). The statement does not specify the source of the foreign currency, which is almost equal to his annual income.
advertisement
advertisement
advertisement
Nizar also declared a loan of MVR 100,000 given to an individual named Mohamed Abbas, which remains unpaid. In addition, he reported ownership of several vehicles, including a BMW Mini Cooper purchased in 2015 for MVR 550,000.
Earlier, Nizar questioned why local media had given what he described as unusual prominence to MPs’ financial statements this year. Writing on Facebook, he argued that financial disclosures by parliamentarians and ministers had been a recurring issue in the past but were not reported with the same level of focus. He accused some outlets of deliberately misleading the public.
Nizar’s statement was among five published after a 15-day notice period, following failure to meet the original deadline. The other members were Central Machangolhi MP Ahmed Zameer, North Maafannu MP Mohamed Nazim, West Maafannu MP Mohamed Mustafa Ibrahim, and Kurendhoo MP Mohamed Shamin.
The financial statement of MNP leader and North Maafannu MP Nazim, a businessman and one of the directors of Rasheed Carpentry and Construction Pvt Ltd, declared an annual salary of MVR 2.5 million and rental income of MVR 336,000. Despite this, his accounts showed relatively small balances.
Nazim’s statement listed significant debts, including MVR 7.7 million and USD 1.6 million (approximately MVR 25.5 million) in loans from various banks. His declared assets include a flat in Hulhumalé, a property in Malaysia, two houses in Malé, and a plot of land in Guraidhoo.
The publication of the delayed statements came alongside wider disclosures from parliament, which have highlighted stark disparities among MPs. While some members reported millions of rufiyaa in assets, income, and gifts, others declared bank balances below MVR 500. Several MPs also listed substantial loans and credit card debts, though the identities of donors providing gifts and contributions were not disclosed.
