Fayaz Mansoor appointed Deputy Managing Director of HDC

Jan 5, 2025, 1:02 PM
Fayaz Mansoor. -- Photo: Adhadhu

Fayaz Mansoor. -- Photo: Adhadhu

Fayaz Mansoor has been appointed Deputy Managing Director (DMD) of the Housing Development Corporation (HDC).

His appointment to the post is now displayed on the HDC website.

Fayaz is the first DMD of HDC under the administration of President Dr. Mohamed Muizzu who assumed office in November 2023.

Ahmed Gais was the DMD of HDC during the administration of former President Ibrahim Mohamed Solih.

The appointment comes days after the resignation of former Managing Director (MD) of HDC Fazul Rasheed following allegations of corruption among the HDC's top management.

Mauroof Jameel was appointed the new MD of the company.

Comments

Read More

Latest News

Villa College selected as host institution for King's Fellowship

Villa College has been selected as the official host institution in the Maldives for the King’s Commonwealth Fellowship Programme. This fully funded undergraduate initiative aims to build climate resilience and leadership in Small Island Developing States. Applications are now open for eleven fellowships covering tuition, travel, and stipends.

Fed rate hike will exacerbate dollar crisis in Maldives

The Federal Reserve's 0.25% interest rate hike is expected to worsen the dollar shortage in the Maldives by driving capital back to the U.S. This shift increases global borrowing costs and debt servicing expenses for the import-dependent nation, placing significant strain on its budget and requiring more effective fiscal management.

Bassam named on MIRA’s tax defaulter list

MIRA has named former FAM President Bassam Adeel Jaleel and several high-profile entities on its list of tax defaulters. Each of the 33 individuals and companies listed owes over MVR 1 million in unpaid taxes. Other notable names include former government official Hassan Ismail and comedian Yoosuf Rafeeu.

Star Medical to host free pre-pregnancy session for couples

Star Medical will host a free pre-pregnancy awareness session for couples on September 24 at 8:45 pm. Led by experienced nurses, the event offers guidance on healthy conception and a Q&A segment. Interested couples can register by contacting the clinic directly.

Businesses face challenges in securing dollar support from BML

Bank of Maldives has notified businesses that dollar support for transfers is now strictly subject to availability. Importers face automatic cancellations if accounts lack full invoice amounts, as the bank struggles with a severe foreign exchange shortage. Business owners report receiving zero support and no prior notice of these changes.

Dollar transfers will return to normal within next week: BML

Bank of Maldives expects dollar transfer services to return to normal next week following recent delays caused by a surge in demand. The bank implemented measures to manage unsustainable outflows from Rufiyaa accounts, noting that the issue is a temporary supply imbalance and not a reflection of its overall financial health.

BML denies funding $50 million debt repayment to SBI

Bank of Maldives denied claims that it provided $50 million to the government for debt repayment to the State Bank of India. The bank clarified that no customer deposits or internal resources were used for the payment. BML maintained its financial stability despite ongoing dollar liquidity challenges and warned against spreading misinformation.

Newsletter

Get the latest news delivered straight to your inbox