Ex-JSC Vice President Yazmeed nmed CEO of Pension Office
In recent months, several board members and senior officials resigned following a board decision on a government bond investment.
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Yazmeed Mohamed, who resigned from the Judicial Service Commission (JSC) last year, has been appointed Chief Executive Officer of the Maldives Pension Administration Office.
The Pension Office announced on Thursday that Yazmeed will begin a five-year term as CEO on Sunday.
Yazmeed previously served on the JSC as the member appointed by the President and held the position of Vice President of the commission before resigning in May. He also contested the most recent parliamentary election as a candidate of the ruling People's National Congress (PNC).
In a statement, the Pension Office said Yazmeed brings experience in finance, governance and public administration.
According to the office, his professional background includes work in governance, auditing, anti-corruption, financial management, strategic management and investment-related fields.
Yazmeed previously served as a member of the Anti-Corruption Commission (ACC) during the administration of former President Abdulla Yameen.
The Pension Office said he holds a number of professional and academic qualifications, including certification as a Chartered Certified Accountant through the Association of Chartered Certified Accountants (ACCA), a Master of Business Administration from Open University Malaysia, and a Bachelor's Degree with First Class Honours in Accounting from Oxford Brookes University.
The office expressed confidence that his appointment would support the continued development of the national pension system.
Yazmeed's appointment comes during a period of change within the Pension Office.
In recent months, several board members and senior officials resigned following a board decision to sell MVR 2.4 billion worth of bonds held by the pension fund to the Maldives Monetary Authority (MMA) and reinvest the proceeds in a government bond.
The decision prompted public debate, with critics arguing that the move could have wider implications for the economy.
The Pension Office has not indicated whether any changes will be made to investment policies following Yazmeed's appointment.
