A director has been appointed to the Housing Development Finance Corporation (HDFC)'s board.
The Privatization Board on Thursday appointed Mohamed Rasheed of M. Naifaru to the HDFC board. He was appointed to the post in place of Khalid Sulaiman of Landhooge, Lh.Hinnavaru.
Rasheed holds a Bachelor of Laws, a Bachelor of Business, and a Diploma in Accounting. He was the General Manager of Hulhumale Sawmills Pvt Ltd when he was appointed as a Board Member of HDFC. Rasheed has previously served as General Manager of Umet Construction Pvt Ltd and Executive Director of Timber House Pvt Ltd.
Established in 2004 by a presidential decree, HDFC provides conventional loans and finance facilities for housing schemes. HDFC's shareholders include the Maldives government, the Asian Development Bank, the Islamic Finance Corporation (IFC), and HDFC India.
