Chairperson and two board members dismissed from FENAKA

FENAKA Corporation's Chairperson Ahmed Shaheer and two other board members have been dismissed from the company, it has been confirmed.

The two other board members who were removed alongside Shaheer on Thursday are Ahmed Ehab and Ibrahim Naaif.

However, the Privatization and Corporatization Board (PCB) has not yet commented on why this decision was made.

Shaheer was appointed as the Chairperson of FENAKA back in last February. Previously, he served as the Managing Director of State Trading Organisation (STO) during former President Abdulla Yameen Abdul Qayyoom's regime, from 2015 until the administration's term ended in 2018.

Shaheer served 29 years of his career in STO and worked as the head of procurement before moving up the ladder to become the managing director.