The Elections Commission rejected the little-known businessman's candidacy Friday morning.
The Bangladeshi embassy was unavailable for comment.
Aishath Fazna told local media she was resigning for personal reasons.
The elections body said it would decide on the candidacy within 48 hours.
Last year's anniversary march was met with pepper spray as police snatched placards and arrested nine people.
Police knew Rilwan was followed by a suspect who was allowed to leave the country.
Yameen told his home minister not to be "overwhelmed" by Rilwan's abduction, according to chat logs from a cabinet Viber group seen by the Maldives Independent.
The deadline for submitting re-registration forms is Saturday.
Haris Abdul Gafoor was stabbed to death last year.
The man was stabbed eight times on Tuesday morning.
The lawmakers were arrested on Gadhdhoo ahead of President Yameen's visit to the island.
The president denied thwarting the investigation into the missing journalist, "who is now dead."
About 260,000 people are eligible to vote in the presidential election.
The report shows MVR11 billion was spent while MVR10.6 billion was earned by the state.
The opposition accused President Abdulla Yameen of 'running scared' of the election.
Ibrahim Rasheed was severely beaten during a police crackdown on February 8, 2012.
The application was submitted last month by prominent lawyer Abdulla Haseen.
