Close Menu
Maldives Business TimesMaldives Business Times
    What's Hot

    Inflation hikes 0.95 percent annually in 2025

    January 25, 2026

    New social housing scheme attracts over 1600 applications on first week

    January 25, 2026

    BML enables Bulk Payment Services for businesses

    January 25, 2026
    Facebook X (Twitter) Instagram
    Monday, January 26
    Facebook X (Twitter) Instagram
    Maldives Business TimesMaldives Business Times
    • Home
    • Features

      Inflation hikes 0.95 percent annually in 2025

      January 25, 2026

      New social housing scheme attracts over 1600 applications on first week

      January 25, 2026

      BML enables Bulk Payment Services for businesses

      January 25, 2026

      Maldives government collects MVR 483 mn as Zakat in five years

      January 23, 2026

      Visit Maldives promotes tourism at Fitur 2026 in Madrid

      January 22, 2026
    • BUSINESS

      Inflation hikes 0.95 percent annually in 2025

      January 25, 2026

      BML enables Bulk Payment Services for businesses

      January 25, 2026

      STO Constructions’ “Roadha Sale” commences

      January 22, 2026

      BML partners with AICB for banking sector development initiative

      January 19, 2026

      Crown and Champa Resorts announces bold new employee-uplifting move: salaries in USD

      January 14, 2026
    • FINANCE
    • OPINION
    • TRAVEL & TOURISM
    • PUBLIC SECTOR
    • LIFE STYLE
    Maldives Business TimesMaldives Business Times
    Home ยป Govt pays MVR29mn to Indian firm over KRH settlement

    Govt pays MVR29mn to Indian firm over KRH settlement

    Government settled MVR29 million to Indian firm for managing KRH
    April 15, 20232 Mins Read
    Share
    Facebook Twitter LinkedIn Pinterest Email

    The Auditor General’s Office report has revealed that the Maldives government paid Indian firm Noor Islamic International Private Limited (NII) a total of MVR 29 million (USD 1.8 million) after the agreement with the company was terminated by the state.

    NII was contracted to manage HDh. Kulhudhuffushi’s regional hospital during former President Abdulla Yameen’s administration in 2017. The company was contracted to manage Kulhudhuffushi Regional Hospital (KRH) for a period of 50 years.

    The AGO’s report detailing the bills NII had sent while managing the hospital showed that the current President Ibrahim Mohamed Solih led administration terminated the contract on 27th October 2019.

    The Ministry of Health repaid the company in November and December 2019.

    The contract was terminated after two of the company’s shareholders, Faisal Khan and Ali Usaid became embattled in a dispute and the hospital could not operate according to the agreement.

    The AGO’s report also showed that NII sent bills to a total of 157 parties while they managed KRH. According to the bills, the money spent amounts to MVR1.9 million, while KRH has not paid MVR1.7 million of this amount back suppliers.

    Moreover, AGO identified that when the settlement agreement was drafted between Maldives government and NII, the agreement did not articulate how the money spent by NII will be repaid to them.

    Since NII is now no longer legally responsible for managing KRH, repayment of bills the hospital owed to other third-parties fell on the Ministry of Health.

    AGO has cautioned to include provisions in future settlement agreements to determine the liable party to pay any outstanding bills if and when it exists close to a contract termination.

    Related Posts

    BUSINESS

    Inflation hikes 0.95 percent annually in 2025

    January 25, 2026
    BUSINESS

    BML enables Bulk Payment Services for businesses

    January 25, 2026
    FINANCE

    Maldives government collects MVR 483 mn as Zakat in five years

    January 23, 2026
    Leave A Reply Cancel Reply

    Don't Miss
    Government

    New social housing scheme attracts over 1600 applications on first week

    January 25, 2026

    According to the Ministry of Construction, Housing and Infrastructure, more than 1600 applications have been…

    BML enables Bulk Payment Services for businesses

    January 25, 2026

    Maldives government collects MVR 483 mn as Zakat in five years

    January 23, 2026
    Demo
    Facebook X (Twitter) Instagram LinkedIn Telegram
    • Home
    • BUSINESS
    • PUBLIC SECTOR
    • TRAVEL & TOURISM
    © 2026 Maldives Business Times. by hyvemedia.

    Type above and press Enter to search. Press Esc to cancel.