MIFCO's CEO and Managing Director Ahmed Shamah Rasheed has been suspended from duties pending investigations being conducted by the PCB.
Maldives Industrial Fisheries Company (MIFCO)'s CEO and Managing Director Ahmed Shamah Rasheed has been suspended from duties pending investigations being conducted by the Privatization and Corporatization Board (PCB).
A statement released by PCB said that they had received complaints against Shamah related to corporate governance issues, and hence had suspended him for the period of 14 days they predict will be required to run investigations into the matter.
The statement announced that this decision has been made in accordance with Article 25 (b) of the Code of Conduct policy for State Owned Enterprises' Directors.
A letter sent to Shamah by the PCB on February 29 also informed him that a total of twelve issues lodged against him are under investigation.
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