Ex-Fenaka MD Muaz appointed Deputy Managing Director of MWSC

Muaz Mohamed Rasheed, the former Managing Director of Fenaka Corporation, has been appointed Deputy Managing Director of the Maldives Water and Sewerage Company (MWSC).

Muaz, who was appointed Managing Director of Fenaka by the current administration, resigned from the post on 23 December 2024.

According to information obtained by Dhauru, the decision to appoint Muaz as Deputy Managing Director was made by the MWSC Board. The exact date of the appointment has not been confirmed.

In his resignation letter to President Dr Mohamed Muizzu, Muaz said he was stepping down because Fenaka's operating expenditure had exceeded its revenue, making it difficult for the company to continue providing its services on a sustainable basis.

He stated at the time that he did not see a viable path to resolve the company's financial challenges while remaining in office.

Following his resignation, there was also speculation that his departure had taken place at the request of the government. However, no official confirmation was provided regarding those claims.