Three individuals have been appointed to serve as Chairperson and Board Members of the Board of the Greater Malé Financial District Limited.

The Privatization and Corporatization Board today announced these appointments in accordance with the The Privatization and Corporatization Act.

According to an announcement made by the Privatization and Corporatization Board, Fathimath Shaheen has been appointed as Chairperson, with Ahmed Siraj, Moammed Riyaz, and Aminath Shaushan Afeef named as Board Members. The appointments were made in accordance with the The Privatization and Corporatization Act.

The Greater Malé Financial District Limited was officially incorporated under the Companies Act on the first day of this month. As a government-owned entity, the company will operate under full ownership of the Government of Maldives.

Officials stated that the primary objective of the new entity is to consolidate and expand the financial services sector within the Maldives. This includes a focus on digital financial services, digital real estate, financial tourism, and banking. The initiative aligns closely with the broader economic policies of the Government and is seen as part of a strategic effort to position the Maldives as a centre for international financial activity.

The company has been established with an authorised capital of MVR 1,000,000,000 (One Billion), divided into 100,000,000 (One Hundred Million) shares. It has been registered as a legal private entity with its own seal and is entitled to initiate or defend legal proceedings in its own name.