Board of Directors

Assoc. Prof Dr. Aishath Muneeza (Chair)

Associate Professor Dr Aishath Muneeza of INCEIF is one of the key founder of Islamic finance in Maldives. She is the first female Deputy Minister of Ministry of Islamic Affairs and the first chairperson of the Hajj Pilgrimage Fund of Maldives. Currently, she is the chairperson of Maldives Centre for Islamic Finance. She has published books and numerous articles on Islamic Finance and her research areas include legal studies & corporate governance applicable to Islamic Finance. She structured the first corporate sukuk, sovereign private sukuk and Islamic Treasury instruments for the government of Maldives and she has played the key role in offering of Islamic finance products by more than eleven institutions. She also designed the first Islamic microfinance scheme offered in Maldives. She sits in Shariah advisory committees of financial institutions offering Islamic financial services such as Islamic hire purchase and takaful. She also holds the position of chairperson of three different in-house Shariah committees. She is the chairperson of Shariah Advisory Council of CMDA, the capital market regulatory authority of Maldives since 2011. She is the only registered Shariah Adviser for structuring capital market instruments in Maldives and she is a registered Shariah Advisor at the Securities Commission of Malaysia. The Islamic capital Market framework of Maldives was designed by her. She has won numerous national and international awards for her service in Islamic finance industry including the Rehendhi award, the highest award conferred to women by the government of Maldives. She is also a role model and a mentor for females who aspire to build their careers in Islamic finance industry and is the Vice President of Women on Boards, an NGO advocating women representation on boards of companies. She is an invited speaker in Islamic finance conferences and events held in different parts of the world. She is listed in 2017 as number seven among the 50 Influential Women in Business and Finance by ISFIRE which is an official publication of Islamic Bankers Association based in London and she is among the most influential 500 in Islamic Economy. She is a member of the Association of Shariah Advisors in Islamic Finance Malaysia (ASAS), Malaysia.

Ms. Fathimath Shafeega (Founder)

Instrumental in setting up the Capital Market Development Authority (CMDA) of Maldives, Ms Fathimath Shafeega was the former Chief Executive Officer of the Capital Market Development Authority (CMDA) of Maldives.

In her nine (9) years tenure as CEO of CMDA, the foresight and forward thinking plans implemented under Ms. Shafeega’s leadership gave rise to the existing corporate governance framework and institutions in the capital market. The key institutions that were established under her direct guidance has sustained till today and are successfully operating in the market such as the Stock Exchange, the Securities Depository, the Brokers, Dealers and all other supporting frameworks for the capital market.

She served in the financial sector of the Maldives for more than two decades which included serving in MMA as Deputy Managing Director / Capital Market Division. She served on many national Committees and represented the Maldives on many key national and international forums. Ms. Shafeega was a member of the Board of CMDA, a member of the Small Medium Enterprises Council (a Ministerial Level Committee), a board member of the Institute of Corporate Directors and Secretaries and also represented Capital Market Development Authority on International Organization of Securities Commissions (IOSCO).

She is currently a Board Director and the Chairperson of the Audit Committee of Maldives Islamic Bank and the Senior Advisor of the Leading Corporate Group, Ensis Group of Companies. Ms. Shafeega is also the Chairperson of Dhivehi Insurance Company Pvt. Ltd which is a private sector owned insurance company licensed by the Maldives Monetary Authority. She is also the founder and Board member of Maldives Capacity Development and Governance Institute

She co-founded Women on Boards NGO after resigning from the government in 2015 and is the President of Women on Boards NGO that works towards empowerment of women leaders especially in the Maldivian financial sector. She has received the Prestigious Rehendi Award which is awarded by the Government of Maldives to recognize outstanding service of women to national development and the society.

She holds a graduate diploma and masters degree in Banking and Finance from Monash University Australia and have undergone specialized training in banking, financial services and Corporate Governance

Ms. Mariyam Shafeega

Ms. Mariyam Shafeega is the CFO in a leading private sector company in the Maldives.

Ms. Mariyam has strong background in financial management and she started her career working for the Government of Maldives at MACL She held senior positions in the MACL before she took employment in Lintel, a leading private company in the cosmetics and trading business.

Ms. Mariyam is also the Chief operating officer of the Women on Boards NGO. In her capacity she has conducted national and international events focused on women development and empowerment.

Ms Mariyam Shawadhin Abdulla

Ms Mariyam Shawadhin Abdulla holds a Masters of Laws in International Banking and Finance Law from University College London (UK), Legal Practicing Certificate from University of Law (London UK) and Bachelor of Laws (LLB Hons) from the University of Manchester (UK)

Ms. Shawadhin is a legal consultant currently working in the Ministry of Finance and Treasury. She is also an attorney working for Business Legal Solutions Pvt. Ltd, a Partner of Fidiels Law Group, a lecturer at Maldives Capacity Development and Governance Institute and a Lecturer for the Bachelor of Laws programme of Villa College. Furthermore, she undertakes social work for Women on Boards NGO and is the Legal Counsel of Women on boards NGO.

Ms. Aminath Mohamed Didi

Ms. Aminath Mohamed Didi was appointed as Director General of Capital Market Development Authority on 14th January 2016.

Ms. Aminath joined CMDA in 2006. During her time at the Authority, she has served in a number of positions in various departments and contributed to the Authority’s finance and human resource restructuring processes, spearheaded numerous investor education programmes as well as training and examinations conducted by CMDA. Prior to joining CMDA, Ms. Aminath has served in the Maldives Monetary Authority, Public Complaints Bureau and Ministry of Atolls Development. She has served the Capital Market Development Authority, Maldives Monetary Authority, and State & Government Institutions for over 20 years. Today she is among the experienced women in the Maldives Financial sector.

Ms. Aminath holds a Master of Business Administration (Mu’amalah) from the Selangor International Islamic University College of Malaysia and a Bachelor of Arts (Double major in Mathematics with Statistics & Economics) from the University of South Pacific, Fiji.

Dr. Mariyam Shahuneeza Naseer

Dr. Mariyam Shahuneeza Naseer is currently employed at the Islamic University of Maldives as the Deputy Vice Chancellor (Research and Innovation). She has a Doctor of Education in Curriculum, Instruction, and Assessment specializing in Algebra. As a Curriculum, Instruction, and Assessment Specialist Dr. Shahuneeza has been directing the curriculum development team in designing, creating, revising, and structuring content, activities, and materials with a focus on instructional delivery methods that are best suited for the learning environment and student experience. In addition, she has been preparing, monitoring, and revising mathematics and mathematics education curriculum; developing and revising teaching materials; coordinating, evaluating, and quality assurance of curriculum delivery, implementation, and assessment. Her contribution to the curriculum development has been recognized internationally and she has received Venus International Women Awards 2017. Dr. Shahuneeza has presented at various international research conferences, published in international academic journals, and is currently working as a Postdoctoral Fellow at IIUM. She is the Chief Editor of the Statistics, Mathematics and Actuarial Science Review and serves as a Reviewer for the International Journal on Emerging Mathematics Education. Dr. Shahuneeza also lectures students enrolled in Master’s Degree Programmes and Undergraduate Programmes on Data Analysis for Management Decisions; Quantitative Research Methods; Quantitative Analysis using Statistics; Statistics for Educational Research to name a few. In addition, she also serves as a thesis supervisor for Master’s students. Dr. Shahuneeza’s contribution to the education has been recognized nationally and she has received Thila Uthuru Uthama Aruthaveringe Award of Recognition 2015, WOB Distinction & Award for Best Young Woman Professional 2016, WIM-MV Recognition Award in Education 2018, and The President’s Award for Special Achievement 2018.

Dr. Irum Saba

Dr. Saba has more than 13 years of progressive regulatory, research, training and teaching experience with organizations of international repute.

She has the honour to be first Pakistani female to be part of International Shari’ah Advisory Board in South East Asia and Middle East. She is member of grand council of the Chartered Institute of Islamic Finance Professionals (CIIF), Malaysia.

She is Assistant Professor in the Department of Economics and Finance and Program Director of MS Islamic Banking and Finance at Institute of Business Administration (IBA), Karachi Pakistan. She is also coordinator of Academics and Research at Centre for Excellence in Islamic Finance (CEIF)-IBA. She delivers training both at local and international levels in addition to teaching, research and administrative work. She has written several articles and chapters in books on the topics of Management, corporate governance, Islamic finance and Islamic microfinance.

She has extensive regulatory experience with specific focus to promote Islamic banking and Finance while working in the Islamic Banking Department of State Bank of Pakistan-The Central Bank. She has also contributed to the promotion and growth of Takaful industry while working with the Securities and Exchange Commission of Pakistan (SECP).
She is a Shari’ah-registered financial planner (Shari’ah RFP). She holds the Chartered Islamic Finance Professional (CIFP) credential from INCEIF with distinction and PhD in Islamic Finance from INCEIF. She holds a Master in Commerce (M. Com) with distinction and PGD in Islamic Banking and Insurance from Institute of Islamic Banking and Insurance (IIBI), London. Her areas of interest are Political Economy, Management, Shari’ah, Wealth planning and Management, Islamic microfinance, corporate governance and Islamic finance.

Irum is an inspiration to all women who wants to pursue a career but is too reluctant to take first step. She has proved herself by demonstrating capacity and capability in a patriarchal society through knowledge and has undertaken challenging projects in a male dominated industry. She is a proof that with a golden heart full of passion and dedication even a female in Islamic finance industry can be a leader and a leader must assist others to grow. Many youngsters admire and respects her for the guidance she offers to them and even in social media platforms she is active in expressing her opinions.