MDP ventures into real-estate to ensure financial independence

Maldivian Democratic Party (MDP) Chairperson Fayyaz Ismail on Wednesday said the party has decided to venture into real-estate to ensure the financial independence.

While inaugurating MDP’s congress on Wednesday evening, Fayyaz said the party requires significant funds to sustain its political activities and addressed that the party never achieved financial independence despite it being 19 years old now.

Although the Political Parties Act allows parties to conduct businesses, the act does not specify any mechanisms for it. Fayyaz said the party does not face any legal obstacles to register a company under its name, and said MDP already sent a letter requesting for it to the state.

“We are planning to venture into real estate soon, which we can achieve only after acquiring a business registration,” Fayyaz said.

The party is also planning to establish an academy to train individuals into becoming capable politicians, which Fayyaz said is an initiative included in MDP’s roadmap.

Fayyaz expressed hope the party will receive necessary permits from all relevant authorities to ensure the academy operates independently.

“… I hope other political parties would also receive training under our academy, and hopefully people would come to join the academy from abroad in the future.”

He said the party has laid groundwork to achieve these goals, and said the party is still unclear on the obstacles in operating an independent academic facility by a political party. Fayyaz said that should the current government deny granting permission, the party may register the academy under its congress members’ name.

At Wednesday’s congress inauguration, Fayyaz further announced MDP’s plans to establish a “think tank” aimed at providing academic support to the party’s sustainable improvement.

The general regulations of the party highlight the concept of a think tank among its standing committees, which is aimed at providing legal and other counsel.

The think tank will be responsible in conducting academic researches and hold dialogue with MDP’s leadership based on these researches.

“Whether we can establish a think tank or not, as an NGO for instance… we have requested the relevant minister to show us a way to achieve this, who responded they have sought counsel of the Attorney General.”

 

MDP has been making significant changes to its framework and regulations to improve the party’s functions.