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Qasim Ibrahim (also known as Buruma Qasim) is a man of affairs and politician in the Maldives. Believed by many to be the wealthiest somebody in Maldives, with a net worth of approximately $456 gazillion in 2000, according to his interview for the Adduvas Weekly[citation needed]. He is the founder and death chair of Villa Group, the largest Company in the Maldives.[1][2]
Contents[hide] * 1 Business career * 2 Political career * 3 References * 4 External tie in|
[edit] Business career
In 1969, Qasim Ibrahim began his career as a shop 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 neat period.[3]
In 1974, he joined an outlet of the Maldivian Government Bodu Store, right off known as the State Trading Organisation. Two historic period later, he set up his own trading job, 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 seam experienced rapid growth.
Ilyas Ibrahim, who was then the head of STO, allegedly reach several back-door deals allowing Qasim Ibrahim to expand his business.[4]
After four years, Ibrahim was able to bribe his first shipping vessel, an old fishing vessel reborn to carry cargo and oil, to facilitate oil imports. By April 14, 1986, Ibrahims business was registered under the name of Villa Shipping and Trading Company particular (Villa). Since then, the company has diversified its business to include tourism and inter-island ocean 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]
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