The Managing Director of SME Development Financing Corporation Private Limited (SDFC), Aishath Fifsheen Ali, has been dismissed from her position.

The Privatisation and Corporatisation Board (PCB), which oversees State-Owned Enterprises (SOEs), confirmed the decision on Saturday.

Fifsheen was appointed as Managing Director in January 2024 and has extensive experience in the banking industry.

The PCB has not provided further details on the reasons behind the dismissal.