Maldives Pension Administration Office has appointed Abdul Majeed Ali as Chairperson of its Board following the resignation of former chairperson Ahmed Inaz.

The Pension Office announced that the appointment was made after Ahmed Inaz stepped down from the position earlier this year. Abdul Majeed Ali had been serving as a board member representing the private sector since 2022 before assuming the role of chairperson.

Majeed currently serves as the Managing Director of a registered audit company providing audit and financial consultancy services. He previously worked at Bank of Maldives and Bank of Ceylon, gaining experience in the banking and finance sector.

He has also previously served as a board member of the Capital Market Development Authority and as a member of the authority’s Audit and Risk Committee. According to the Pension Office, Majeed has additionally contributed to private sector development within the financial industry.

Majeed holds a Master of Science degree in International Economics, Banking and Finance from Cardiff University in Wales.

Following his appointment as chairperson, Yameen Idhrees was appointed as an additional board member representing the private sector. Yameen previously served as Managing Director of the Maldives Hajj Corporation.

The Pension Office Board consists of eight members, including representatives from the Government and private sector.