In a big success story, Buruma Qasim, also known as Qasim Ibrahim, is a great source of inspiration for many people. He was born in August 1951 in the Maldives and started working as an office worker in a hospital in Male when he was 18. His journey, with both good and bad times, shows how he became a successful businessperson and is now the richest person in the Maldives.
Qasim left his first job in 1973 and started managing a furniture store. At the same time, he worked part-time for a government trading company. While working there, he got the idea to start his own business. In 1976, he founded his own trading company, dealing with things like rice, tobacco, diesel, and kerosene.
Qasim’s entrepreneurial spirit led him to expand his business into travel and tourism, transport, construction, manufacturing, gas, and cement. His company, Villa Shipping and Trading Company Limited, became very successful and powerful in the business world of the Maldives.
Later on, he took a smart step by getting a loan from the State Bank of India (SBI) to grow his business. With a $2000 loan, he started the foundation for his successful enterprise. Even now, SBI is his main bank.
Starting with fishing using an old boat converted for cargo shipping, he expanded into oil import, changing his fishing boat into a cargo ship. He then diversified his company into different industries.
Qasim started his political journey in the late ’80s and got elected to the Maldives Parliament in 1989. Even though he faced accusations and even went to jail because of problems in his company, Qasim didn’t give up. In 2005, he became the Governor of the Central Bank of the Maldives.
It is indeed concerning to witness derogatory language being used against the Prime Minister of India @narendramodi by 3 junior officials of the Maldivian government on social media.— Qasim Ibrahim (@qasimibrahim) January 7, 2024
This kind of behavior not only goes against the principles of diplomacy and mutual respect,… pic.twitter.com/HIlM1e06TU
Qasim Ibrahim’s Villa Group is worth around 5 million dollars, and his total wealth is estimated to be 9.63 billion Maldivian Rufiyaa. His story reminds you that with hard work and smart decisions, you can overcome challenges and achieve great success.