MDP presents mortgage bill to parliament

The bill was presented to the parliament by MDP MP for Ihavandhoo constituency Ahmed Abdulla, who said the objective of the bill was to regulate and enhance policies of mortgage transaction.

The bill enables the mortgaging a property for more than one loan, he said.

However, opposition MPs claimed that the bill was drafted in a way that would authorise the government to sell mortgaged properties without going through judicial procedure, and that it would be a threat to opposition politicians.