Company Structure

HDFC Plc. was privatized under Public Private Partnership between GOM and foreign investments in 51% shares by IFC, ADB and HDFC Investments Ltd of India.

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

Mr. Hamid Sodique

Mr. Mohamed Rasheed

Alternate Directors

Mr. Mohamed Zuhair

International Finance Corporation

Nominee Directors

Ms. Amena Arif

Asian Development Bank

Nominee Directors

Ms. Kohe Noor Binte Mahmoodul Hassan

Alternate Directors

Mr. Asif Saeed Cheema

HDFC Investments Ltd (India)

Nominee Directors

Independent Directors

Ms. Aishath Shizna

Mr. Mohamed Ahmed

Managing Director

Company Secretary

Mr. Adam Athif

Audit Committee

Ms. Amena Arif
International Finance Corporation
Member

Ms. Kohe Noor B. M. H
Asian Development Bank
Member

Mr. Hamid Sodique
Government of Maldives
Member

Board Credit Risk Management Committee

Ms. Aishath Shizna
Independent Director
Chairperson

Mr. Mohamed Rasheed
Government of Maldives
Member

Mr. Hamid Sodique
Government of Maldives
Member

Ms. Amena Arif
International Finance Corporation
Member

IPO Committee

Mr. Hamid Sodique
Government of Maldives
Member

Ms. Kohe Noor B. M. H
Asian Development Bank
Member

Nomination & Remuneration Committee

Mr. Hamid Sodique
Government of Maldives
Chairperson

Ms. Kohe Noor B. M. H
Asian Development Bank
Member

Ms. Aishath Shizna
Independent Director
Member

Shari'ah Advisory Committee

Dr. Ibrahim Zakariyya Moosa
Chairperson

Assoc. Professor Dr. Rusni Hassan
Member

Dr. Ali Zahir bin Saeed Qasim
Member

Mr. Ahmed Sameen
Secretary

Auditors

Ernst & Young

Internal Auditor

KPMG

External Auditor

Legal Counsel

Mazlan & Murad
Law Associates