The People’s Majlis has approved a motion to expedite investigations into alleged corruption surrounding Fenaka Corporation’s branches and projects in Addu City. The resolution further mandates the launch of a separate money laundering investigation into the individuals implicated in the scandal.

Following a comprehensive review by the Public Accounts Committee, the report was passed unanimously with 53 votes. In accordance with the committee’s findings, the Parliament has directed that corruption-related allegations be submitted to the Anti-Corruption Commission (ACC), while matters involving potential money laundering are to be referred to the Maldives Police Service for further action.

The Public Accounts Committee’s review centered on a special audit report covering the period between 2021 and 2023. The report highlighted that Fenaka’s board members and senior management at the time authorized projects that resulted in significant financial losses for the state utility company, often without evaluating more cost-effective alternatives or the best interests of the corporation.

Furthermore, the Parliament has called for a significant overhaul of Fenaka’s procurement policies. The recommended reforms include strict measures to prohibit the acquisition of goods and services from businesses owned by or linked to the families of company executives and employees to prevent further conflicts of interest.