President Dr Mohamed Muizzu has stated that key national assets have been safeguarded following the repayment of the USD 500 million Sukuk, describing the move as a major step in protecting State property from potential forfeiture.

He made the remarks while addressing a large gathering of supporters at the 'Rayyithunge Bodu Hingaalun' rally in Rasfannu to conclude the election campaign, noting that the repayment was completed as pledged and without compromising the country’s financial stability.

The Sukuk, issued in 2021 to refinance a USD 250 million bond, was undertaken under terms that placed several State assets at risk in the event of default, including Dharumavantha Hospital, Indira Gandhi Memorial Hospital (IGMH), 11 school buildings in the Greater Malé region and other Government infrastructure.

The President said the repayment ensured that these assets were not subject to mortgage or seizure, highlighting that it marked the largest single debt repayment made by the Maldives, while noting that it was achieved without printing money and alongside maintaining strong national reserves.

He further criticised the previous administration’s borrowing practices, stating that loans had been secured without a clear repayment strategy and were directed towards projects with limited economic return.