Qasim Ibrahim is the richest person in Maldives. He started as a clerk, took a loan from SBI, and later founded his trading company, Villa Shipping and Trading Company Limited. His net worth is 9.63 billion Maldivian Rufiyaa (approximately 52,008 crore INR)
Qasim Ibrahim, nicknamed Buruma Qasim, has inspired many with his great achievement. Born in August 1951 in the Maldives, Qasim became a hospital clerk in Male aged 18. His ups and downs illustrate the spirit of a self-made entrepreneur. He’s Maldives’ richest.
In 1973, Qasim left his clerical job to manage a furniture market. He also worked part-time for a government trading company. He decided to establish a business while working at that firm.
Qasim began his commodities trading enterprise in 1976, trading rice, tobacco, fuel, and kerosene.
Entrepreneurship drove Qasim to expand into travel and tourism, transport, construction, manufacturing, gas, and cement.
He built Villa Shipping and Trading Company Limited into a Maldivian corporate powerhouse.
He strategically borrowed from State Bank of India (SBI) to expand his business. With a $2000 loan, he started his successful business. SBI is still his main banker.
Using a renovated old boat for cargo shipping, he started fishing and then imported oil. His company then expanded into other industries.
His political career began in the late 1980s and culminated in his 1989 election to the Maldives Parliament.
Qasim continued despite claims and jail for company violations. He was Maldives Central Bank Governor in 2005.
Qasim Ibrahim’s Villa Group is worth $5 million, and his total wealth is 9.63 billion Maldivian Rufiyaa.
With devotion and wise decisions, one may overcome hurdles and achieve great success, as Qasim Ibrahim demonstrated.
Conclusion
Qasim Ibrahim is the richest person in in Maldives. He worked as a clerk and then for a government trade company. Founded in 1976, his trading enterprise traded rice, tobacco, gasoline, and kerosene. Villa Shipping and Trading Company Limited, his fast-growing company, requested a $2000 State Bank of India loan. Qasim was Maldives Central Bank Governor in 2005. His Villa Group is worth $5 million, and he has 9.63 billion Maldivian Rufiyaa.
