Pension Office board sees another resignation following bond sale approval
Madhin submitted his resignation on Wednesday. He was appointed to the board on 13 May last year.
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Mohamed Madhin Latheef has resigned from the board of the Pension Office, according to officials.
Madhin submitted his resignation on Wednesday. He was appointed to the board on 13 May last year.
His resignation follows a decision by the Pension Office board to approve the sale of MVR 2.4 billion worth of bonds held by the pension fund to the Maldives Monetary Authority. The funds received from the central bank are to be used to invest in new government bonds.
Several senior officials have previously resigned after opposing the transactions, stating concerns over the use of pension fund investments to support government expenditure.
Those who have resigned include Ahmed Saruvash Adam, who stepped down from the board in September last year. The following month, Hawwa Fajwa resigned from her position as Chief Financial Officer.
More recently, Ahmed Inaz resigned as chairman of the board on Sunday. Sujatha Haleem also resigned from her post as Chief Executive Officer on Wednesday.
