Corporate Governance

We protect our organization through regulatory bodies and with comprehensive solutions for whistleblowing, anti-money laundering, and ethical conduct. Everything you need in one place.

Regulated by Maldives Monetary Authority

HDFC complies with the legislation and regulations that govern the non- financial banking sector issued by the Authority.

MMA-Office

CMDA Corporate Code

HDFC is bound by Capital Market Development Authority’s Corporate Code on Corporate Governance, the framework that recognizes the shareholders’ rights and ownership functions, the role of stakeholders, disclosure and transparency standards and critical duties and responsibilities of the Board.

Anti-Money Laundering and Combating the Financing of Terrorism


The Company complies with internal procedures and controls satisfactory to the International Investors, and following national law and best international banking standards, including the standards promulgated by the Basel Committee on Banking

Supervision and the Wolfsberg Standards, for the purpose of:

  • Preventing the Company from being used for Money Laundering, the Financing of Terrorism, fraud, or other corrupt or illegal purposes or practices
  • Ensuring that any financial institution with which the Company conducts business
  • Or enters into any transaction, or through which the Company transmits any funds, does not have correspondent banking relationships with any Shell Bank.
  • Ensuring that the Company does not conduct business or enter into any transaction with or transmit any funds through a Shell Bank.
  • Ensuring that the Company will not enter into any transaction with, or for the benefit of, any individuals or institutions named on lists of sanctioned persons promulgated by the United Nations Security Council or its committee’s resolutions in connection with money laundering or anti-terrorism matters.

Shari’ah Governance Framework


The HDFC Amna department is managed and systematized to ensure proper Shari’ah governance mechanisms both within the department and among its stakeholders. A Shari’ah Committee consisting of three members has been established to advise the Board of Directors of HDFC on Shari’ah related matters.