Second MMA board member quits following land purchase decision
Economist Ahmed Zayan Mohammed, who represented the Ministry of Finance on the MMA board, also resigned this week.
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Shuhad Ibrahim, a board member of the Maldives Monetary Authority (MMA) representing the economic ministry, has resigned.
His resignation follows the MMA board’s decision last week to approve a payment of MVR 14 billion to the Housing Development Corporation (HDC) for land acquisition in Hulhumale. Shuhad is reported to have voted against the decision.
The decision was made amid differences of opinion among board members. Economist Ahmed Zayan Mohammed, who represented the Ministry of Finance on the MMA board, also resigned this week. It is reported that his resignation was also linked to dissatisfaction with the decision.
Following these resignations, the remaining MMA board members are:
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Ahmed Munawwar – Governor
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Ahmed Imad – Deputy Governor
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Idham Hussain – Advisor to the MMA
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Mahzoom Saleem – Representing the private sector
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Fathimath Shafeega – Representing the private sector
