BML director quits ahead of meeting on new board appointments
The bank will hold an extraordinary shareholders meeting on Saturday to appoint new directors proposed by the government.
Bank of Maldives (BML) board director Aishath Sajny has resigned from her board membership, a day before the bank is set to hold an extraordinary shareholders meeting to appoint new directors proposed by the government.
BML has not yet commented on her resignation. However, Atoll Times has confirmed it.
Sajny is the Policy and Research Consultant for the Ministry of Economic Development, appointed in September 2020. Prior to this, she served as an Economist at the International Monetary Fund from February 2019 to March 2020.
Sajny has over 10 years of professional experience in macroeconomics and finance. She was the Economist and Head of Research Division of Maldives Monetary Authority from 2017 to 2019. She has held various positions in MMA including Senior Research Analyst of Economic Research Section, Debt Manager of Public Debt Unit and Head of Market Operations.
Sajny holds a Masters in Applied Economics from Eastern Michigan University, USA and a Bachelor of Science in Economics and Finance from London School of Economics, Singapore.
The government has proposed three directors to the BML board:
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Ahmed Ali Habeeb, who holds the political position of cabinet secretary at the President's Office at the ministerial level, as the BML chairperson
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Mohamed Shahid - Accounting expert and has held senior positions in the tax authority, Maldives Inland Revenue Authority (MIRA)
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Ali Irfan, Daylight Villa/Addu Maradhoofeydhoo - Higher education in accounting and finance; He has worked as a consultant to the ministries of finance and health
Recently, two BML directors have resigned from the board:
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BML CEO and Managing Director Karl Stumke; The bank has started a search for his replacement
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BML deputy CEO Aishath Noordeen has resigned from the board after the government announced that she had been removed from the board; However, she still works as the deputy CEO of the bank
An extraordinary general meeting of shareholders has been scheduled for Saturday to make changes to the board of directors following tensions between the government and the bank following the recent ban on foreign transactions from cards issued to BML's Rufiyaa accounts.
The government has described the change in card limits as a financial coup and police are conducting a criminal investigation into surrounding events. The ruling PNC has also called for the resignation of the CEO and board members of BML.
The government holds a 66.27% stake in BML, including government, government-owned companies and institutions. The remaining 33.73% of the shares are owned by the public. The majority of the public shares are owned by Champa Brothers, Maldives' largest business family.
