Board Composition

The Board of Directors comprises of five nominees from the shareholders: The Government of Maldives, HDFC Investments Ltd., (India), Asian Development Bank. (ADB), and the International Finance Corporation. (IFC). Each of the shareholders is represented by one Nominee Director with the exception of the Government of Maldives which has two Nominee Directors in the Board. The shareholders also have the right to nominate Alternative Directors who may participate in the Board Meetings but can only exercise the right to vote in the absence of the Nominee representing the shareholder. The Chairman to the Board of Directors is appointed on rotation, and with a non-voting managing director responsible for policy implementation and on-going operations. All directors possess a wide range of talents, skills, and experience with proven track records in the field of housing finance and business administration.