The SME Development Finance Corporation (SDFC) on Wednesday announced the appointment of Hassan Kalaam to its Board of Directors as a non-executive director.
Kalaam currently serves as the Chief Islamic Banking Officer at Bank of Maldives (BML), where he has been credited for playing an instrumental in the strategic development and growth of the bank's Islamic banking arm.
According to SDFC, Kalaam is a licensed Shariah advisor with more than 13 years of experience in the financial services and banking industry.
He holds a Master’s Degree in Islamic Finance from Malaysia’s International Centre for Education in Islamic Finance (INCEIF) and is a Senior Associate Member of Chartered Institute of Islamic Finance Professionals.
With this appointment, the directors on the SDFC’s Board are:
Mohamed Shareef
Badhurudheen Hassan, Managing Director
Fathimath Farihath Waheed
Hassan Kalaam
Fathimath Azma
Ahusal Mohamed
Fathimath Yamna
The latest appointment marks a number of changes within the top leadership of the SDFC after it became a subsidiary of the BML, as the government transferred its stake in the SDFC to the national bank.
With the transition, SDFC now operates under BML as a dedicated Islamic digital bank, established to strengthen the growth of small and medium enterprises in the Maldives.
The bank has said it will focus on delivering Islamic financing solutions through advanced digital platforms, with a strategy prioritizing start-ups, women-led enterprises, fishermen, farmers, agribusinesses, sustainable ventures, and businesses in the e-commerce sector.