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Fayyaz responds to allegations regarding a loan taken for resort development!
Former Economic Minister Fayyaz Ismail said in an interview with "Adhadhu" that some of businessman Mohamed Shafeeq's social media remarks about a resort development loan were accurate while others may reflect memory lapses or misunderstanding. Fayyaz said he never held shares in the project but had an interest in it, that Shafeeq's guarantee was given to a close associate rather than at his request, and that the project ultimately failed after much of the work was completed.
Sources1carried itRE1 of 19 news outlets we monitor
One outlet so far Only Raajje (English) has reported this among the sources we monitor. A gap in what we monitor, not proof that others did not report it.
Who said what
the reports' own quoted words, each once
The project in question is not one in which I have ever held any shares. However, I did have some degree of interest in it through various means, and that remains the case today. As Shafiq mentioned, the project was spearheaded by a group …
The guarantee provided by Shafiq was not issued to me, nor was it something I requested. The majority shareholder of that project is a very close associate of Shafiq, and he provided that guarantee as a favor to that individual.
