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.

Organizational Structure

Government of Maldives

Nominee Directors

Dr. Mohamed Shafeeq
Ms. Zidna Ibrahim

Alternate Directors

Mr. Mohamed Zuhair

International Finance Corporation

Nominee Directors

Asian Development Bank

Nominee Directors

Ms. Kohe Noor Binte Mahmoodul Hassan

Alternate Directors

Mr. Asif Saeed Cheema

HDFC Bank Ltd

Nominee Directors

Mr. Ajay Agarwal

Independent Directors

Mr. Ahmed Asad Hashim

Managing Director

Mr. Ahmed Zeenad

Company Secretary

Mr. Adam Athif

Audit and Risk Management Committee

Mr. Ahmed Asad Hashim
Chairperson
Ms. Kohe Hasan
Member
Mr Ajay Agarwal
Member

Board of Credit Committee

Mr. Ahmed Asad Hashim
Chairperson
Dr. Mohamed Shafeeq
Member
Ms. Zidna Ibrahim
Member
Mr. Ajay Agarwal
Member

IPO Committee

Dr. Mohamed Shafeeq
Chairperson
Mr. Ajay Agarwal
Member
Ms. Kohe Hasan
Member
Mr. Ahmed Asad Hashim
Member

Nomination & Remuneration Committee

Ms. Zidna Ibrahim
Chairperson
Ms. Kohe Hasan
Member
Mr. Ajay Agarwal
Member
Mr. Ahmed Asad Hashim
Member

Auditors

Ernst & Young
Internal Auditor
KPMG
External Auditor

Legal Counsel

Mazlan & Murad
Law Associates