The Maldives Pension Administration Office (MPAO) has announced the appointment of Abdul Majeed Ali as the new Chairperson of its Board of Directors, succeeding Ahmed Inaaz, who recently resigned from the position.
Majeed, who has served as a board member representing the private sector since March of last year, officially assumed the chairmanship on 21 May, bringing with him over two decades of experience in banking, finance, and auditing.
The newly appointed chairman brings a distinguished professional background to the role. He operates a registered audit company that provides audit and financial consultancy services to clients across the private sector. Prior to establishing his own practice, Majeed accumulated substantial expertise during his tenure at Bank of Maldives and Bank of Ceylon, where he developed his foundational knowledge in banking operations and financial management.
His public service credentials are equally impressive. Majeed previously served as a Board Member of the Capital Market Development Authority, where he contributed to the authority's governance as a member of its Audit and Risk Committee. The MPAO highlighted his significant contributions to private sector development within the financial sector as a key factor in his selection for the leadership position.
In terms of academic credentials, Majeed holds a Master of Science degree in International Economics, Banking and Finance from Cardiff University in Wales.
The leadership transition extends beyond the chairmanship. With Majeed's elevation to the chairman's role, the Pension Office has also appointed Yameen Idrees to fill the vacancy created on the board. He brings considerable executive experience to the position, having served as the Managing Director of the Hajj Corporation before his appointment.