Privatisation and Corporatisation Board (PCB) has appointed Khalid Sulaiman to the Board of Directors of Housing Development Finance Corporation (HDFC).
The HDFC Board of Directors consists of Nominee Director Conrad D’Souza, Alternative Director Asif Saeed Cheema, Managing Director Raheema Saleem, Nominee Director Amena Arif, Nominee Director Kohe Noor Hasan, Nominee Director Hamid Sodique, Independent Director Mohamed Ahmed, Independent Director Aishath Shizna, and Alternate Director Mohamed Zuhair.
HDFC was incorporated in 2004 by a Presidential Decree under the Companies Act. Its commercial operations commenced with 100% shareholding by the Government of the Maldives which later in 2008 was privatised with the shareholding from Asian Development Bank (ADB), International Finance Corporation (IFC), and HDFC Investments Limited (India) holding 51% of the share and the 49% of the shares by the Maldivian government.
HDFC re-entered the market for mortgage loans for the housing needs of individuals and families after restructuring its capital, and with new lines of long-term funding. The company is unique as the only mortgage housing institution in the Maldives.