Aishath Nooradeen, who has served at the Bank of Maldives (BML) for 42 years, has resigned from the bank's Board on Sunday.
The bank, in a press release today, extended thanks to Aishath Nooradeen, who had been appointed as a member of the board on August 31, 2020, for her extensive service. Nooradeen, who is also the Deputy CEO of the bank, has served in the bank's board a number of times during the past as well.
Nooradeen handed in her resignation on Sunday after the Privatization and Corporatization Board (PCB) had sent a letter on Friday notifying her of her dismissal from the board. However, PCB does not hold the authority to appoint or dismiss members from BML's board. Being a public shareholder company, BML's board members can be appointed or dismissed only through a general meeting of its shareholders.
Due to this, there were questions of legality around the dismissal letter sent to Nooradeen from the PCB.
A number of directors of BML had been dismissed via letters from PCB even in January this year. As PCB does not have the legal authority to do so, these directors were later reinstated. Later, an extraordinary general meeting was held, through which they were then dismissed.
Aishath Nooradeen is currently the second longest-serving employee at BML, having joined in 1982.
Aishath Nooradeen dismissed from BML Board
The Edition