Social ministry representative Asif removed from pension board
His removal comes amid changes at the Pension Office, including the appointment of Yazmeed Mohamed as its Chief Executive Officer.
Asif Haneef, who represented the Ministry of Social and Family Development on the Maldives Pension Administration Office’s Board of Directors, has been removed from his position.
Asif was removed from the Pension Board last Thursday. The reason for the decision has not been disclosed.
He was in Malaysia attending a training programme at the time of his removal, according to information received regarding the matter.
Asif was appointed to the Pension Board on 17 March 2024 as the representative of the Social and Family Development Ministry.
His removal comes amid changes at the Pension Office, including the appointment of Yazmeed Mohamed as its Chief Executive Officer. Yazmeed took office on Sunday after previously serving as the President’s representative and Vice-President of the Judicial Service Commission.
The Pension Office has also seen the departure of several board members and officials following a decision involving MVR 2.4 billion in Pension Fund investments.
Under the transaction, the Pension Board decided to sell MVR 2.4 billion in bonds held by the Pension Fund to the Maldives Monetary Authority (MMA) and reinvest the proceeds in government bonds.
Several board members and officials subsequently resigned, with some raising concerns about the economic implications of the transaction.
