Private sector application opens for Pension Board seat
One of the seats allocated to private sector representatives became vacant after the resignation of Madhin Latheef on 4 February.
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Applications have opened Tuesday for the vacant seat out of the four seats on the Board of the Maldives Pension Administration Office for the private sector.
The board recently decided to sell MVR 2.4 billion in bonds held by the pension fund to the Maldives Monetary Authority (MMA), and to reinvest the proceeds from MMA in government bonds. Following this decision, several board members resigned, citing concerns about its economic impact.
One of the seats allocated to private sector representatives became vacant after the resignation of Madhin Latheef on 4 February.
The deadline for applications is 24 February at 1.00pm. Applications and supporting documents must be submitted to the Maldives Pension Administration Office or emailed to [email protected].
Applicants must meet the following requirements:
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1-
A first degree in business, economics or law
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2-
Experience in the pension or investment sector
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3-
Private sector representatives must not hold any public or government position
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Applicants must not be employed by a public or private company in which the government holds more than 50 per cent of shares, or by a subsidiary controlled by such a company
In addition, applicants must comply with the provisions of Articles 8 of the Maldives Pensions Act.
Applications must include:
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A letter of application for board membership
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A completed Fit and Proper Declaration Form, available on the Pension Office website
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Copies of educational certificates
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Personal and professional details, including contact information, address, and experience in the financial, pension or investment sector, and any previous board or fiduciary roles
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Documents confirming work experience and other supporting materials
A selection committee will shortlist three candidates for appointment as a private sector representative on the board. The President will appoint board members after their eligibility is verified by the Capital Market Development Authority.
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