Monday, August 6, 2012

About Buruma Gasim - The richest man in Maldives

 Currently the Parliament Member representing Adh. Maamigili Constituency.+ Currently the Chairman of The Jumhoory Party.Was a Member of The Peoples Special Majilis of Maldives. + Served as the "Raees" (President) of The Peoples Special Majilis. + Served as the Governer and Minister of Finance and Treasury towards the end of President Maumoon Abdhul Gayoom's tenure. + Served as the Minister of Home Affairs in the MDP coalition Government. + Served as a Deputy leader of DRP until he resigned to run for presidency in the 2008 Presidential Elections.+ Was the presidential Candidate from Jumhoory Party in 2008 Election.In 1969, Qasim Ibrahim began his career as a clerk at the Government Hospital in Malé. In 1973, he left his job in the Government Hospital and took up an appointment as Manager at M/S Alia Furniture Mart. Subsequently, he worked for Crescent, a trading organisation, for a short period.[3]In 1974, he joined an outlet of the Maldivian Government Bodu Store, presently known as the State Trading Organisation. In 1976 he set up his own trading business, with an initial borrowed capital of US$2,000 from Ilyas Ibrahim, which was then equivalent to 30,000 Maldivian Rufiyaa. He traded in commodities such as rice, tobacco, diesel and kerosene, which proved to be profitable, and the business experienced rapid growth. Ilyas Ibrahim, who was then the head of STO, allegedly handed several back-door deals allowing Qasim Ibrahim to expand his business. [4] After four years, Ibrahim was able to purchase his first shipping vessel, an old fishing vessel converted to carry cargo and oil, to facilitate oil imports. By April 14, 1986, Ibrahim's business was registered under the name of Villa Shipping and Trading Company Limited (Villa). Since then, the company has diversified its business to include tourism and inter-island marine transport. In addition, the company trades in an increasing number of products in the Maldives. Shell and Agfa are among the brand names represented by Villa in the Maldives, as a sole agent.[4] On the registration the shareholders were Ibrahim and Rabia Hussein, holding 95% and 5% respectively of the share capital. For strategic reasons, Villa Shipping (Singapore) Pte Limited was incorporated in Singapore on December 19, 1991, with Villa holding a major interest. The paid up capital by Villa Shipping (Singapore) now stands at S$500,000.[4] In October 1996, representative office, with the primary objective of promoting Villa resorts, opened in Frankfurt, Germany. Constraints on the activities permitted through the representative office led to the creation of a company with wider objectives. Villa Holidays Touristik GmbH was incorporated by Ibrahim on 23 July 1997 with a paid-up capital of DM500,000. The company aims to act as a wholesaler for holiday packages to the Maldives, an agent for sales of hotel rooms in the Maldives, sale of air tickets, and a vehicle for acquiring and trading of tourism related properties and real estate such as hotels and resorts worldwide.[4] In the year 2001 and 2002 Villa Hotels, Tokyo and Villa Hotels, Hong Kong were established respectively. Qasim Ibrahim was elected as a Member of Parliament in 1989. In addition, he has held and still holds various other posts in a number of government committees and regional bodies. President of the SAARC Chamber of Commerce and Industry President of the Maldives National Chamber of Commerce and Industry (MNCCI) Vice-President of the Maldives Association of Tourism Industry (MATI) Board member of the Maldives Ports Authority (Government Appointment) Former board member of the Bank of Maldives President of the Peoples Special Majlis Mr. Qasim Ibrahim was the Minister of Finance and Treasury in the Maldives government from July 2005 to July 2008.[5] He resigned from his post as the Minister of Finance and Treasury on Thursday, 10 July 2008 due to allegations of incompetence. [6] He also resigned from his position as the Deputy Leader of the Dhivehi Rayyithunge Party (DRP), and submitted resignation from the party as well, shortly after resigning from his position as the Finance Minister. [7][8] In 2008, Qasim Ibrahim joined the recently founded Jumhooree Party (Republican Party), which currently holds two seats in the Maldives Parliament, and was unanimously elected as the party's choice for the presidential elections in October 2008.[9] He was officially endorsed by the party at its first National Congress held at Dharubaaruge, Male', on 22 August 2008. In the first round he received 15.22% of votes. [10] As of 12 November 2008 he became the minister for home affairs. But resigned 20 days later.[11] Gasim was arrested in 2009 for corruption but later all the charges against him was dropped.[12] He is currently representing Maamigilee Dhaairaa in Maldives Parliament