Close Menu
Maldives Business TimesMaldives Business Times
    What's Hot

    STO People’s Choice Opens First Floor, Expanding Home Improvement and Lifestyle Offerings

    June 14, 2026

    Lending to Your Own Government: A Guide to Maldivian Government Securities and the Law That Makes Them Work

    June 11, 2026

    Three New Ambassadors Meet Maldives Foreign Minister

    June 10, 2026
    Facebook X (Twitter) Instagram
    Monday, June 15
    Facebook X (Twitter) Instagram
    Maldives Business TimesMaldives Business Times
    • Home
    • Features

      STO People’s Choice Opens First Floor, Expanding Home Improvement and Lifestyle Offerings

      June 14, 2026

      Lending to Your Own Government: A Guide to Maldivian Government Securities and the Law That Makes Them Work

      June 11, 2026

      Three New Ambassadors Meet Maldives Foreign Minister

      June 10, 2026

      Visit Maldives Corporation Posts Best Revenue in Eight Years

      June 10, 2026

      Maldives Welcomes close to a million Tourists by Early June, Down 4.8%

      June 10, 2026
    • BUSINESS

      STO People’s Choice Opens First Floor, Expanding Home Improvement and Lifestyle Offerings

      June 14, 2026

      Visit Maldives Corporation Posts Best Revenue in Eight Years

      June 10, 2026

      Maldives Welcomes close to a million Tourists by Early June, Down 4.8%

      June 10, 2026

      New Plastics Rules Set MVR 100,000 Fines for Banned Items

      June 9, 2026

      HDC and MIT Launch Programme to Teach Women Technical Skills

      June 9, 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

    STO People’s Choice Opens First Floor, Expanding Home Improvement and Lifestyle Offerings

    June 14, 2026
    Government

    Three New Ambassadors Meet Maldives Foreign Minister

    June 10, 2026
    BUSINESS

    Visit Maldives Corporation Posts Best Revenue in Eight Years

    June 10, 2026
    Leave A Reply Cancel Reply

    Don't Miss
    Features

    Lending to Your Own Government: A Guide to Maldivian Government Securities and the Law That Makes Them Work

    June 11, 2026

    The Maldivian state owed the market about MVR 97 billion through securities alone. That is…

    Three New Ambassadors Meet Maldives Foreign Minister

    June 10, 2026

    Visit Maldives Corporation Posts Best Revenue in Eight Years

    June 10, 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.