Azima once again ordered to pay MVR 4.1 million to Maldives Islamic Bank

Former Attorney General Aishath Azima Shakoor has once again been ordered to pay Maldives Islamic Bank (MIB) MVR 4.1 million by the Civil Court, after it quashed the same previous ruling which was issued in Azima's absence.

The Civil Court earlier this year ordered Azima to pay MVR 4.1 million for a loan she took out from the bank, but failed to repay. Because the order was issued in absentia, Azim appealed the ruling at the Civil Court.

In the case, the Civil Court ruled that the judgment in absentia was null and void under Article 124 (a)(2) of the Civil Procedure Act.

However, the Civil Court held that it was proved that Islamic Bank had issued a diminishing musharakah property finance facility with Azima's mortgage and Azima had not repaid the loan in accordance with the agreement of the facility.

The amount due for the facility till yesterday but not yet paid was at MVR 4,282,514. The MVR 266,512 which has been incurred as charity payment must also be paid by Azim, the court ruled.

The court ordered Azima to pay no less than the amount due each month and clear the entire pending amount of the facility to MIB within the next three months.

The judgment also stipulated that until all payments due in connection with the facility are paid and the facility account is closed, all rights and powers granted to Maldives Islamic Bank under the agreements relating to the facility would continue unchanged.

According to the ruling, Azima mortgaged a flat in Platinum Residence to acquire the facility.