Yazmeed appointed as CEO of Pension Office

Yazmeed Mohamed has been appointed as the Chief Executive Officer (CEO) of the Maldives Pension Administration Office.

The Pension Office announced on Wednesday that Yazmeed Mohamed has been appointed as its Chief Executive Officer, effective August 23, 2024. Yazmeed has been appointed to the position for a five-year term.

Yazmeed most recently served as the presidential appointee to the Judicial Service Commission (JSC). However, he resigned from his position as Vice President of the JSC last May.

Yazmeed contested the 2024 parliamentary elections for the Villingili constituency on the ticket of the ruling People's National Congress (PNC).

Furthermore, Yazmeed has previously served as a member of the Anti-Corruption Commission and as an Audit Manager at the Auditor General's Office. He is a certified chartered accountant, having completed the Association of Chartered Certified Accountants (ACCA) qualification. Additionally, he holds a Master’s degree in Business Administration from Open University Malaysia and a First-Class Honours degree in Accounting from Oxford Brookes University.

The position of CEO at the Pension Office became vacant following the resignation of Sujatha Haleem on February 4. In addition to Sujatha, the Pension Office’s Head of Investment, Haifa Ahmed, also resigned in July. These departures come amid internal disagreements regarding the government's bond purchase transactions.

Reports have surfaced that final preparations are underway to execute a transaction initially proposed last year, involving the divestment of MVR 2.4 billion in Treasury bills held by the Pension Fund. Under this arrangement, the proceeds from the T-bill liquidation would be reinvested into long-term government bonds.