HDFC Plc. was privatized under Public Private Partnership between GOM and foreign investments in 51% shares by IFC, ADB and HDFC Investments Ltd of India.

The Board of Directors comprises of five nominees from the shareholders; the Government of Maldives, HDFC Investments Ltd., (India), the Asian Development Bank and the International Finance Corporation. Each of the shareholders is represented by one Nominee Director with the exception of the Government of Maldives which has two Nominee Directors in the Board.

The shareholders also have the right to nominate Alternative Directors who may participate in the Board Meetings but can only exercise the right to vote in the absence of the Nominee representing the shareholder.

The Chairman to the Board of Directors is appointed on rotation, and with a non-voting managing director responsible for policy implementation and on-going operations. All directors possess a wide range of talents, skills and experience with proven track records in the field of housing finance and business administration.

Board of Directors*
Nominee Directors
Mr. Mohamed Mauroof Jameel – GOM
Ms. Renu Sud Karnad – HDFC Investments Ltd.
Mr. Gaurav Agarwal – ADB
Mr. Nihal Senanayake Welikala – IFC

Alternate Directors
Mr. Conrad D’Souza – HDFC Investment Ltd (India) – Chairman
Mr. Asif Saeed Cheema – ADB
Mr. Hamid Sodiq – GOM

Managing Director
Ms. Raheema Saleem

Company Secretary
Mr. Adam Athif

Audit and Management Committee
Mr. Conrad D’Souza – HDFC Investment Ltd. – India – Chairman
Mr. Nihal Senanayake Welikala – IFC
Mr. Mohamed Mauroof Jameel – GOM

Nomination and Remuneration Committee
Mr. Conrad D’Souza – HDFC Investment Ltd (India)
Mr. Gaurav Agarwal – ADB

Credit and Risk Management Committee
Mr. Nihal Senanayake Welikala – IFC – Chairman
Mr. Gaurav Agarwal – ADB

* The Chairman and Board Directors function in a non-executive capacity.

Company Registration Number:C-107/2006
Place of incorporation:Male’, Republic of Maldives
Head office:Housing Development Finance Corporation Plc.
4th Floor, H. Mialani, Sosun Magu,
Male’, Republic of Maldives
Contact Number:3334666, Fax: 3315138
Email:info@hdfc.com.mv
Managing Director:Ms. Raheema Saleem
Company Secretary:Mr. Adam Athif
Auditors:PWC
Legal Counsel:Mazlan & Murad Law Associates
Head Office

Housing Development Finance Corporation Plc.
H. Mialani, 4th Floor,
Sosun Magu,
Male’, Maldives

Addu center

Housing Development Finance Corporation Plc.
Elhedheedhee Magu, S. Hithadhoo
Addu City
Maldives

More information on Contact Page