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About us

The Maldives Fund Management Corporation (MFMC) was formed with the objective of seeking capital market solutions for private sector development while creating opportunities for local and foreign investors to benefit from investment in various sectors of the Maldivian economy.

Objectives

The broad objective of MFMC is to ease the restrictions on access to credit and lower the cost of finance to the private and public sector, thus facilitating the implementation development targets, increasing national income and widening the tax base.

Facilitate funding for private and public sector to access international capital markets and raise the required long-term finance which cannot be adequately catered for by the local financial system.

Management Structure

MFMC is owned by the Government of Maldives. The Company is governed by a Board of Directors appointed by the Government. The Company and funds subsequently launched by the company will be managed by a qualified management team with proven experience, integrity, and an understanding of financial markets.

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Ms. Neeza Imad

Chairperson

Ms. Neeza Imad is the current Minister of State for Economic Development and had previously served 31 years at the Maldives Monetary Authority. During her tenure at the central bank, she last served as the Assistant Governor for Financial Stability. During her career, she has also served as a member of the Maldives Monetary Authority’s Board of directors, and as an alternate governor to the International Monetary Fund. Additionally, she served as the Alternate Governor of the International Monetary Fund during her tenure at MMA as the Assistant Governor. She was also appointed as the Chairperson on the Board of Male’ Water & Sewerage Company (MWSC).

She holds a Master of Commerce from Wollongong University, Australia, and a Bachelor of Business (International Business) from Charles Stuart University.

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Mr. Hassan Manik

Managing Director

Mr. Hassan Manik has over 15 years of experience in both public & private sectors in the areas of national planning, banking, capital markets, consultancy, finance, and project management.

He held several key positions at the Bank of Maldives Plc, before serving as the Chief Executive Officer of Maldives Stock Exchange and Maldives Security Depository from September 2011 to September 2017. Mr. Hassan Manik is currently a Consultant to the Ministry of Economic Development of the Republic of Maldives, has over 15 years of experience in national planning, banking, capital markets, consultancy, finance, and project management.

He is an MCIS, holds an M.Sc. In International Banking & Finance from the University of Southampton and has a BA (Hons) degree in Accounting & Finance from the University of Abertay Dundee in Scotland. He has been instrumental in the establishment of most public offerings witnessed in the Maldives. He provides consultancy to businesses in conceptualizing and executing new business models in achieving success.

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Mr. Hussain Shihab

Deputy Managing Director

Mr. Hussain Shihab is currently appointed as the Deputy Managing Director of MFMC. He has over 25 years of experience in both public & private sector, with over 20 years of experience in senior executive positions in the areas of banking, finance, consultancy, credit and lending, and financial management.

He served as a Financial Management Specialist for the WorldBank projects at the Ministry of Environment and Energy, working towards implementing the WorldBank financial management system in several projects. Additionally, he implemented several successful ERP implementations in different business verticals with word leading ERP (Enterprise Resource Planning) Software, SAP.

He is an ACCA/UK-Certified Accounting Technician Membership since March 2001, and AAT/UK Membership since September 2000. He also has a BA (Hons) degree in Accounting and Finance from the University of East London, 2008.

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Ms. Mariyam Manarath Muneer

Non-Executive Director

Ms. Mariyam Manarath Muneer is currently appointed as a Non-Executive Director on the MFMC Board of Directors and is the Senior Policy Director of Ministry of Finance since May 2019 with the key responsibility of overseeing the Resource Mobilization Department.

Ms. Manarath previously worked at the Bank of Maldives and gained extensive financial and credit risk assessment skills by working in the areas of credit risk and strategic planning & change management. Furthermore, she also worked at the Japan International Cooperation Agency in project finance and at the National Tender Department at the Ministry of Finance in the evaluation of government tenders.

She plays a key role in donor coordination with financial institutions and currently also Chairs the Asia-Pacific SDG Financing Facility which is a regional technical assistance facility supporting countries to design, implement and scale financing strategies for national sustainable development priorities.

She holds a BA (Hons) degree in Accounting and Finance from the London School of Economics and Political Science, 2014.