Bank of Maldives Chairman Hassan Zareer Resigns : Vacancy to be Filled in July

In a statement on Thursday morning, the national bank said Zareer resigned from the bank’s board as the Parliament had approved his upcoming appointment as the commissioner general of taxation.
This move, sanctioned by the Parliament, marks the end of Mr. Zareer's tenure, which commenced following his appointment at a Special General Meeting held on March 25th.
The Bank of Maldives operates under a structured governance framework, outlined in its Rules of Procedure. The Board of Directors, comprising eight members appointed by the Government and elected by common shareholders, plays a crucial role in overseeing the bank's operations and strategic direction. With Mr. Zareer's departure, the bank is tasked with filling the resulting vacancy.
According to established procedures, the Bank of Maldives aims to convene a special general meeting in July to address the vacancies within the Board of Directors. This meeting will serve as a platform for stakeholders to nominate and appoint qualified individuals who can effectively contribute to the bank's mission and objectives.
In light of Mr. Zareer's resignation, the Bank of Maldives expresses its gratitude for his dedicated leadership and valuable insights provided during his tenure. His contributions have been instrumental in guiding the bank through various challenges and opportunities, and his departure leaves behind a legacy of professionalism and commitment.
As the Bank of Maldives prepares to embark on a new chapter, it remains committed to upholding its core values of integrity, transparency, and customer-centricity. The forthcoming appointment of a new Chairman signifies a pivotal moment in the bank's journey, as it continues to serve the needs of its stakeholders and contribute to the economic development of the Maldives.