The Edition


Governor of Maldives central bank resigns

Fathmath Shaahunaz
16 August 2017, MVT 11:17
Dr Azeema Adam announces her resignation as the governor of MMA. PHOTO: HUSSAIN WAHEED/MIHAARU
Fathmath Shaahunaz
16 August 2017, MVT 11:17

Governor of the Maldives Monetary Authority (MMA), Dr Azeema Adam, on Wednesday resigned from her position after a tenure of three years.

Speaking to reporters early Wednesday, Dr Azeema stated that she was satisfied with the role she had played in MMA and that her decision stemmed from changes to her personal life.

She explained that her husband Ali Naseer Mohamed, who is the recently appointed Representative of the Maldives to the United Nations, is planning to move to New York, USA.

Dr Azeema declared that working in the Maldives while residing abroad for a long period of time would not be a fair decision.

Ending a career in MMA that began at the age of 19, Dr Azeema proclaimed that she has received the satisfaction of contributing even a fraction to the service and benefit of the Maldives and its people.

Her three year tenure as the first female governor of the Maldives has seen the launch of several new ventures by MMA. However, she also faces accusations of MMA “sleeping” during the corruption scandal of Maldives Marketing and Public Relations Corporation (MMPRC), the largest corruption scandal in the history of the Maldives in which jailed former Vice President Ahmed Adheeb had embezzled over MVR 2.1 billion state funds via the corporation.

In her short farewell statement, Dr Azeema declared that she is greatly satisfied with MMA’s achievements in strengthening the nation’s monetary policy and management of the foreign currency market in order to maintain the value of Maldivian Rufiyaa. She also noted the credit guarantee scheme MMA launched for small and medium enterprises as an achievement.

During her final days as MMA governor, the central bank introduced a new housing loan scheme with a significantly low interest rate. She added that seeing the launch of the new loan scheme, which is expected to begin this month, was another satisfaction as the governor.