Due Date: 7 May 2024 12:00

Post:                                         Member of Shariah Committee

No of Vacancy:                       01                  

Post Type:                               Independent

Duration:                                 Two Years

Reporting to:                           Board of Directors  

Introduction

Housing Development Finance Corporation (Plc) is a specialized financial institution providing financial assistance and support in the area of Housing Financing. In its effort to provide inclusive financial solutions in the Maldives, HDFC has launched its Islamic window HDFC Amna in 2012, to provide Shariah-compliant financial solutions.

Background

Shariah Committee is an independent body of specialists who are well versed in Islamic commercial transactions (Islamic Jurisprudence). The Shariah Committee of HDFC is entrusted with the duty of directing, reviewing, and supervising the activities and business affairs of the HDFC Amna to ensure that they are in compliance with Islamic Shari’ah rules and principles and established guidelines.

Scope of Shariah Committee

The Shariah Committee of HDFC is expected to:

1. Oversee the Shariah compliance business activities and affairs of HDFC to ensure their compliance at all times.
2. Advise the Board and the Management of HDCF on Shariah matters in order for the HDFC Islamic to comply with Shariah principles at all times.
3. Review, examine, validate, and endorse all the Shariah policies and procedures.
4. Endorse product structures, processes and workflows, and SOPs.
5. Endorse all the legal documents, materials, manuals, and guidelines.
6. Assess and oversee the work carried out by the Shariah review and Shariah audit function in order to ensure compliance with Shariah matters.
7. Provide assistance to related parties, such as HDFC’s credit, legal, auditor, or consultants who may seek advice on relevant Shariah matters.
8. Provide written Sharīah opinions whenever necessary.
9. Advice on required preventive, remedial, and corrective measures in circumstances where Shari’ah non-compliance issues are reported.
10. Provide guidance on day-to-day and routine Shariah related issues, post product approval and Shari’ah training.
11. Respond to Shari’ah-related queries, conduct Shariah review and submit annual reports.

 Nomination criteria

Criteria for the names nominated as Shariah Committee members.

1. Shall be a natural person.  A company, institution, or an independent body cannot be considered a Shariah committee member.
2. Must be a practicing Muslim.
3. Must be mature and sane and must have reached intellectual maturity.
4. Shall have an acceptable reputation, character, and integrity.
5. Must not have been convicted of theft, misappropriation, extortion, fraud, criminal breach of trust, corruption, or negligence.
6. Shall possess a formal qualification or a bachelor’s degree/ijazah from a recognized university in the sciences of Sharī‘ah including Islamic transaction/commercial law (Fiqh al’Muamalat), and be able to demonstrate an adequate understanding of finance in general and Islamic finance in particular or,
7. Must be individuals generally recognized for their expertise in their respective field (e.g. economics, law, banking, accounting, finance, etc.) and possess empirical knowledge and Islamic finance related expertise or experience.
8. Nominees shall be fit and proper as per the applicable regulations.
9. Shall not be a Shariah committee member of other financial institutions within the same category of financial institutions.

 Structure

Shariah Committee is an independent group of members appointed by the Board of Directors of HDFC and shall be reporting directly to the Board. Shariah committee members shall carry out the oversight function of the internal Shariah department and business activities and affairs of HDFC   in matters related to Shariah.

Shariah committee of HDFC   consists of a minimum of 3 members, among whom a chairperson for the committee will be appointed. The committee composition shall be diverse in areas of Sharia: Islamic Jurisprudence (Principles of Islamic Jurisprudence and Islamic Commercial Law), and/or Islamic Finance and Economics.

 Conduct of Meetings

Sharia Committee members shall conduct a minimum of one meeting in each quarter. However, HDFC may call for delegated or extraordinary Committee meetings if the need arises. The meetings will generally be held at the HDFC head office located in Male’ City, Republic of Maldives. The meeting shall be conducted via other means If required.

 Remuneration

Committee members will be remunerated as per the remuneration policy of HDFC.

 How to Apply:

Prospective members shall forward their Cover Letter, CVs and supporting documents to HDFC by 7^th May 2024, 12:00 hours. The documents must be emailed to amna@hdfc.com.mv

Housing Development Finance Corporation (HDFC) PLC, established in January 2004, is the only specialized housing finance institution in the Maldives. HDFC is a privatized company with International Shareholders represented by International Finance Corporation (IFC of World Bank Group), Asian Development Bank and HDFC Investments Ltd. of India, jointly holding 51% of shares.

Over the years HDFC has developed and launched several products since its privatization and has built the housing portfolio of over MVR 1.6 billion, both covering Conventional Home Loans and Islamic facilities for home construction, home purchases and home renovation.

HDFC seeks competent individuals/firms with necessary technical capacity to register interest by submitting Expression of Interest for the provision of “Branding Services” as per the scope below.

Scope

The scope of work may include, but is not limited to, the following:

• Brand Strategy Development:
  • Brand positioning and guideline
• Brand Identity Development (based on current logo):
  • Typography selection
  • Visual language recommendations
  • Design of print materials including corporate T-shirts, Business cards, Email Signatures, and Letterhead
  • Logo reveal video with audio (for intro or outro)

Submission and Instructions

The following documents should be submitted along with the proposals:

1. Proposal with quotation
2. Design portfolio or profile / Curriculum Vitae of individual
3. Registration Certificate / ID card of individual
4. Reference letters or other supporting documents

Applicants may obtain further information from the following contact:

Duration of Contract

The duration will be for a period of 1 month (30 days)

Evaluation Criteria

*Best proposal will not be determined based on the price submitted.

Terms and Conditions

HDFC reserves the right to reject any or all proposals or to accept any proposal that it may consider to be in the best interest of the company.

HDFC shall not be held liable for any errors or omissions in any part of this EOI. The information contained in the EOI is supplied solely as a guideline. The information is not guaranteed or warranted to be accurate by the HDFC, nor is it necessarily comprehensive or exhaustive. HDFC assumes no responsibility or liability for the adequacy, accuracy or completeness of any information provided in this EOI.

Conflict of Interest

The selected party shall hold matters including its contents or materials obtained in the course of services to HDFC as strictly confidential and shall not disclose the same to anyone without prior written consent, unless obliged by law, in which case, the party must inform of such disclosure in a timely manner.

The party shall avoid all matters that could raise a potential conflict of interest, and advice the Institute beforehand on any potential or apparent conflict of interest.

Invitation and Deadline for Submission of Expressions of Interest (EOI) & Quotation

Interested individuals/firms are requested to express interest by submitting proposals no later than 17 April, 2024 1430hrs to the following address. HDFC will only respond to the selected firm/individual.

Housing Development Finance Corporation Plc.,

3rd Floor, H. Mialani, Sosun Magu, Male, Republic of Maldives.

Tel +960 3334666, Email: info@hdfc.com.mv

Due Date: 21 March 2024 14:30

Open for Maldivians only*

Housing Development Finance Corporation (HDFC) PLC, established in January 2004, is the only specialized housing finance institution in the Maldives. HDFC is a privatized company with International Shareholders represented by the International Finance Corporation (IFC of World Bank Group), Asian Development Bank, and HDFC Bank Ltd. of India, jointly holding 51% of shares.

HDFC has a vacancy for the right candidate who can provide support to the Credit Team of the company in the capacity of Credit Officer.

Job Title: Credit Officer

Job Type: Full-time

Job Description

• Provide sufficient and appropriate information to customers and accept application forms
• Determining credit worthiness of clients and evaluating financing facilities
• Presenting applications to the credit committee for decision after thorough credit analysis of the applications
• Preparing Offer/Reject Letters, loan and mortgage agreements
• Provide necessary and appropriate information to customer inquiries accurately and promptly

Job Requirements

• Qualification in Business Administration / Management (Diploma / Degree level)
• Work experience in banking and finance sector will be an added advantage
• Good analytical and decision-making skills
• Should be an effectual communicator verbally and through writing skills
• Ability to work under pressure
• Competent with General Office Software

Salary

• Salary ranging from MVR 11,000 to 13,000, commensurate with qualifications and experience.

Other Benefits

• Service allowance
• Fixed monthly Cost of Living Allowance
• Health Insurance (as per company policy)

Term of Contract: 12 months (Renewal subject to performance review)

Interested candidates are requested to submit application, available for download at www.hdfc.com.mv, along with a CV, copy of ID card, accredited and attested educational certificates, reference letters from current and previous employers, police report, and other supporting documents on or before 21^st March 2024, 2:30 pm. Only shortlisted candidates will be contacted for interview.

Due Date: 19 March 2024 14:00

Housing Development Finance Corporation (HDFC) PLC, established in January 2004, is the only specialized housing finance institution in the Maldives. HDFC is a privatized company with International Shareholders represented by the International Finance Corporation (IFC of World Bank Group), Asian Development Bank, and HDFC Bank Ltd. of India, jointly holding 51% of shares.

HDFC has a vacancy for the right candidate who can provide support to the IT Team of the company in the capacity of TECHNICAL SUPPORT with a programming background.

Job Title:  Developer Technical Support (Open for Maldivians only)

Job Type:  Full-time

Job Description

• Designing, coding and building custom solutions
• Testing and debug issues that arise in the development process.
• Provide online technical support for customers and staff.
• Create and maintain technical documentation, including design and technical specifications.
• Collaborate with team members to understand business requirements and design solutions to meet those needs.
• Troubleshoot Application, Web services and Mobile Applications.
• Maintain and upgrade existing Microsoft applications.

Job Requirements

• Should have a minimum education Diploma / A’ Level / O’ Level or a related field.
• Minimum of 1 year of programming experience either in C# or Php, and JavaScript, ASP.NET or Php frameworks and familiar with SQL Server, API, Web services and Mobile Application.
• Strong problem-solving and communication skills.
• Solid understanding of software development principles.

Salary

• Salary ranging from MVR 19,000 to 25,000, commensurate with qualifications and experience.

Term of Contract: 12 months contract (Renewable subject to performance review)

Interested candidates are requested to submit application, available for download at www.hdfc.com.mv, along with a CV, copy of ID card, accredited and attested educational certificates, reference letters from current and previous employers, police report, and other supporting documents on or before 19^th March 2024, 2:00 pm. Only shortlisted candidates will be contacted for interview.

Tel: +960 3334666; email: hr@hdfc.com.mv

Job Title: 

CHIEF FINANCIAL OFFICER

(For Maldivians only)*

Due Date: 17 March 2024

Housing Development Finance Corporation PLC of Maldives (HDFC) was incorporated as a state-owned company in 2004. It was privatized in 2008 with equity injection from International Finance Corporation (IFC), Asian Development Bank (ADB) and HDFC Banks Ltd of India. The structure of the shareholding in the privatized HDFC is as follows:

• Government of the Maldives 49%
• International Finance Corporation 18%
• Asian Development Bank 18%
• HDFC Bank Ltd. (India) 15%.

HDFC is the only specialized housing finance institution in the Maldives providing finance for the housing needs of individuals and families. While the operating environment has become more competitive with the arrival of commercial banks in the housing finance market, demand for home loans continues to grow and HDFC maintains a sizable market share.

HDFC is seeking a qualified candidate for the following position.

POST: CHIEF FINANCIAL OFFICER (CFO)

POST TYPE: Permanent (Initial contract shall be for a period of 2 (two) years), subject to MMA’s fit and proper (Open for Maldivians only)

DEPARTMENT: Finance

REPORTING RELATIONSHIPS

The Chief Financial Officer (CFO) shall report to the Managing Director (MD) on a daily basis, and to the Board and Board Committees as and when required.

OVERALL RESPONSIBILITIES

• Responsible for financial planning and control, analyzing the financial strengths and weaknesses and proposing strategic solutions, ensuring legal and regulatory compliance, robustness of accounting information systems, and preparation of budgets, forecasts, financial reports and statements.
• Developing and implementing the financial business strategy, business plan and budget for HDFC.
• As a member of the Executive Management team, CFO will be an advisor to the Managing Director and other Functional Heads, evaluating and assisting them with their financial plans.
• Overseeing all fiscal and fiduciary responsibilities for the organization, in consultation with the Managing Director.

PLEASE REFER TO THE TERMS OF REFERENCE (TOR) ATTACHED FOR DETAILED DUTIES AND RESPONSIBILITIES OF THE CFO

EDUCATION/QUALIFICATION AND EXPERIENCE

• A master’s degree or equivalent professional qualification (MNQF level 9) in the field of Accounting or Finance.
• CA / ACCA / CIMA / CPA membership will be an added advantage.
• Minimum of 5 years of senior management experience in a corporate environment.

CORE COMPETENCIES

• Strong knowledge of accounting principles and financial reporting standards, including International Financial Reporting Standards (IFRS)
• Strong analytical skills and rich experience conceptualizing financial strategy and execution of plans in a lending Company.
• Strong leadership, mentor and develop a direct team by managing work allocation, training, problem resolution, performance evaluation, and building of an effective team dynamic.
• Strategic thinking, planning and execution skills and technical and functional expertise.
• Strong team player, who has an eye on compliances and standard operating processes.
• A collective and flexible style, with a strong customer service outlook. Someone who can envisage game changing strategies and tactics for long, medium- and short-term tenures.
• Fluency in business communication in both Dhivehi and English.

Interested candidates are requested to submit the application, available for download at www.hdfc.com.mv, along with CV, copy of ID card, attested educational certificates, and supporting documents, by 17^th March 2024. Applications should be sent to the email below.

The Chairman

Housing Development Finance Corporation PLC.,

H. Mialani, Sosun Magu, Male’ Rep. of Maldives.

Email: nrc@hdfc.com.mv

29th February 2024 marks the end of an incredible 20 years of service offered by Ms. Raheema Saleem to HDFC. Ms. Raheema Saleem was a key player of the core team that joined during the inception of the company in 2004.

From the first loan approved by HDFC to the inauguration of its Islamic Financing wing – AMNA and other key achievements, she played a pivotal role to steer into the company’s vision of providing decent & affordable homes and uplift the living standards of all Maldivians.

Ms. Raheema Saleem is also a remarkable woman who demonstrated confidence, integrity, and defied stereotypes to lead in the financial sector of Maldives. Her career exemplifies the power of resilience, determination, and commitment to make an inspiring impact to all women seeking to break new grounds in the modern corporate world.

On behalf of all staff, stakeholders, and the board, we thank Ms. Raheema Saleem for the extraordinary commitment, invaluable dedication, and supportive guidance extended as the managing director, a colleague, and a friend to us. We wish the very best to her future endeavors and engagements.

May Allah SWA grant her prosperous, healthy and happy years ahead! Aameen!

Due Date: 22 February 2024 14:30

Open for Maldivians only*

Housing Development Finance Corporation (HDFC) PLC, established in January 2004, is the only specialized housing finance institution in the Maldives. HDFC is a privatized company with International Shareholders represented by the International Finance Corporation (IFC of World Bank Group), Asian Development Bank, and HDFC Bank Ltd. of India, jointly holding 51% of shares.

HDFC has a vacancy for the right candidate who can provide support to the Credit Team of the company in the capacity of Credit Officer.

Job Title: Credit Officer

Job Type: Full-time

Job Description

• Provide sufficient and appropriate information to customers and accept application forms
• Determining credit worthiness of clients and evaluating financing facilities
• Presenting applications to the credit committee for decision after thorough credit analysis of the applications
• Preparing Offer/Reject Letters, loan and mortgage agreements
• Provide necessary and appropriate information to customer inquiries accurately and promptly

Job Requirements

• Qualification in Business Administration / Management (Diploma / Degree level)
• Work experience in banking and finance sector will be an added advantage
• Good analytical and decision-making skills
• Should be an effectual communicator verbally and through writing skills
• Ability to work under pressure
• Competent with General Office Software

Salary

• Negotiable commensurate with qualifications and experience

Other Benefits

• Service allowance
• Fixed monthly Cost of Living Allowance
• Health Insurance (as per company policy)

Term of Contract: 12 months (Renewal subject to performance review)

Interested candidates are requested to submit application, available for download at www.hdfc.com.mv, along with a CV, copy of ID card, accredited and attested educational certificates, reference letters from current and previous employers, police report, and other supporting documents on or before 22 February 2024, 2:30 pm. Only shortlisted candidates will be contacted for interview.

Due Date: 20 February 2024 14:30

Open for Maldivians only*

Housing Development Finance Corporation PLC of Maldives (HDFC) was incorporated as a state-owned company in 2004. It was privatized in 2008 with equity injection from International Finance Corporation (IFC), Asian Development Bank (ADB) and HDFC Banks Ltd of India. The structure of the shareholding in the privatized HDFC is as follows:

• Government of the Maldives 49%
• International Finance Corporation 18%
• Asian Development Bank 18%
• HDFC Bank Ltd. (India) 15%.

HDFC is the only specialized housing finance institution in the Maldives providing finance for the housing needs of individuals and families. While the operating environment has become more competitive with the arrival of commercial banks in the housing finance market, demand for home loans continues to grow and HDFC maintains a sizable market share.

HDFC is seeking a qualified candidate for the following position.

Post:  HEAD OF CREDIT

Post Type: Permanent (Initial contract shall be for a period of 2 (two) years), subject to MMA’s fit and proper (Open for Maldivians only)

Department: Credit

Reporting Relationships:

The Head of Credit shall report to the Managing Director (MD) on a daily basis, and to the Board and Board Committees as and when required.

Overall Responsibilities

• Responsible for review of credit applications and maintain a good balance between returns and risks exposure
• Monitor monthly targets of approvals, disbursements and commitments
• Review and develop company’s credit manual, policies and procedures
• Lead credit team to ensure high standard of the portfolio by using various credit assessment tools.

PLEASE REFER TO THE TERMS OF REFERENCE (TOR) ATTACHED FOR DETAILED DUTIES AND RESPONSIBILITIES OF THE HEAD OF CREDIT

Education / Qualifications and Experience

• University degree or master’s degree in finance, Accounting, Business, Economics or a related discipline, preferably with other professional qualifications. Possesses 5 to 15 years of credit evaluation experience in housing or related activities;
• Credit evaluation experience with complex credits and structuring and experience in Islamic Finance is a definite advantage.

Core Competencies

• The selected candidate is expected to influence the board and other key decision makers by leveraging his/her wide-ranging portfolio growth, risk, product, and credit experience and, logical approach to problem-solving his/her excellent ability to present and communicate to the required.
• Ability to think critically, comprehend detailed business, technology, and risk concepts, and develop and defend an independent position based on a pragmatic and balanced assessment
• Provide top-level findings and recommend strategies
• Work independently and deliver high-quality work products and deliver presentations to the board and the management.
• Researching, analyzing, and developing a comprehensive database of market information for utilization at the portfolio level
• Fluency in business communication in both Dhivehi and English.

Interested candidates are requested to email application, available for download at www.hdfc.com.mv, along with a CV, copy of ID card, accredited and attested educational certificates, reference letters from current and previous employers, police report, and other supporting documents by 20th February 2024 to nrc@hdfc.com.mv

Due Date: 13 February 2024 14:30

Housing Development Finance Corporation (HDFC) PLC, established in January 2004, is the only specialized housing finance institution in the Maldives. HDFC is a privatized company with International Shareholders represented by International Finance Corporation (IFC of World Bank Group), Asian Development Bank and HDFC Bank Ltd. of India, jointly holding 51% of shares.

HDFC has a vacancy for the right candidate who can provide support to the Credit Team of the company in the capacity of Loan Document Officer.

Job Title:  Loan Document Officer

Job Type: Full-Time

Job Description

• Work related to the execution of the Loan, Facility, and Mortgage Agreement
• Carry out mortgage registration for new loans/facilities and mortgage cancellation for settled loans/facilities
• Update and maintain mortgage data in business central and database
• Maintain, monitor and update mortgage title deeds
• Prepare assignable mortgage rights (pledge documents) and update the records
• Prepare and maintain legal pockets
• Conduct annual legal documentation audits, prepare and present reports to the management.

Job Requirements

• Diploma in Business Administration / Business Management
• Fast typing skills (Dhivehi/English)
• Ability to deliver effective results, meet deadlines for targets
• Should be an effectual communicator verbally and through writing skills
• Ability to work under pressure
• Competent with General Office Software

Salary

• Negotiable commensurate with qualifications and experience

Other Benefits

• Service allowance
• Fixed monthly Cost of Living Allowance
• Health Insurance (as per company policy)

Term of Contract: 12 months (Renewal subject to performance review)

Interested candidates are requested to submit application, available for download at www.hdfc.com.mv, along with a CV, copy of ID card, accredited and attested educational certificates, reference letters from current and previous employers, police report, and other supporting documents on or before 13 February 2024, 2:30 pm. Only shortlisted candidates will be contacted for interview.

Tel: +960 3334666; email: hr@hdfc.com.mv

Due Date: 6 February 2024 14:30

Housing Development Finance Corporation (HDFC) PLC, established in January 2004, is the only specialized housing finance institution in the Maldives. HDFC is a privatized company with International Shareholders represented by International Finance Corporation (IFC of World Bank Group), Asian Development Bank and HDFC Bank Ltd. of India, jointly holding 51% of shares.

HDFC has a vacancy for the right candidate who can provide support to the HR Team of the company in the capacity of Assistant Manager – Human Resources.

Job Title:  Assistant Manager – Human Resources

Post Type: Temporary

Main Responsibilities

• Manage administrative works related to human resource management functions including but not limited to recruitment and selection, onboarding and orientation, performance management, compensation and benefits, training and development, recognition and rewards, employee relations, employee engagement, grievances and dispute resolution, employee transition and offboarding.
• Assistant in the development, implementation and revision of strategies, policies, procedures and guidelines related to human resource management function
• Ensuring management of accurate and up-to-date staff information
• Ensuring all employees are informed and aware of HR policies and procedures of HDFC
• Ensuring organizational compliance with relevant employment laws and regulations.

Job Requirements

• Bachelor’s degree in human resource management with minimum 5 years of work experience in a similar role
• Should have good knowledge of the Employment Act, and other relevant laws and regulations
• Should be able to work independently and effectively with minimal supervision.
• Should have excellent verbal and written communication skills in both Dhivehi and English
• Should be able to perform with integrity, professionalism, and maintain confidentiality.

Salary

• Negotiable commensurate with qualifications and experience

Term of Contract: 12 months (The contract shall be extended based on performance)

Interested candidates are requested to submit application, available for download at www.hdfc.com.mv, along with a CV, copy of ID card, accredited and attested educational certificates, reference letters from current and previous employers, police report, and other supporting documents on or before 6 February 2024, 2:30pm. Only shortlisted candidates will be contacted for interview.

Tel: +960 3334666; email: hr@hdfc.com.mv