News HDFC / finance Maldives Impact 3.0/10 2 min read

Former Finance Minister Shafeeq Appointed Board Director at HDFC

Former Minister of Finance Mohamed Shafeeq, who resigned on 31 September (likely 30 September) 2024, has been appointed as a Board Director at the Housing Development Finance Corporation (HDFC) as of 2 December 2024, according to the Privatization and Corporatization Board (PCB) website. Shafeeq previously served as CFO at HDFC. HDFC oversees the Hiyaavehi Finance Scheme, which provides soft housing loans: one type for atolls and islands, and another for Greater Malé area and other urban centres. Shareholders include the Government of Maldives (49%), Asian Development Bank (18%), International Finance Corporation (18%), and HDFC India (15%).

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Dec 22, 2024

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Former Minister of Finance Mohamed Shafeeq, who resigned on 31 September (likely 30 September) 2024, has been appointed as a Board Director at the Housing Development Finance Corporation (HDFC) as of 2 December 2024, according to the Privatization and Corporatization Board (PCB) website. Shafeeq previously served as CFO at HDFC. HDFC oversees the Hiyaavehi Finance Scheme, which provides soft housing loans: one type for atolls and islands, and another for Greater Malé area and other urban centres. Shareholders include the Government of Maldives (49%), Asian Development Bank (18%), International Finance Corporation (18%), and HDFC India (15%).

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