Badhuruddheen Hassan has been appointed as the new Managing Director of the SME Development Finance Corporation (SDFC), which has recently become a subsidiary of the Bank of Maldives (BML).
Badhuruddheen, who previously served as BML’s Director of Retail and SME Banking, brings extensive experience in the financial sector to his new role. His appointment follows the government’s transfer of its stake in SDFC to BML, a decision approved by the Cabinet earlier this year.
With this transition, SDFC will operate under BML as a dedicated Islamic digital bank, established to strengthen the growth of small and medium enterprises in the Maldives. The bank will focus on delivering Islamic financing solutions through advanced digital platforms, with a strategy prioritising start-ups, women-led enterprises, fishermen, farmers, agribusinesses, sustainable ventures, and businesses in the e-commerce sector.
In addition to his role as Managing Director, Badhuruddheen Hassan has also been appointed Executive Director to the Board. Alongside him, Fathimath Farihath Waheed, Head of Card Networks and Strategic Partnerships at BML, has been appointed as a Non-Executive Director to the Board.
With these appointments, the SDFC Board now comprises:
- Mohamed Shareef, M. Ifau, Malé
- Badhuruddheen Hassan, Hikifinifenmaage, HDh. Kulhudhuffushi
- Fathimath Farihath Waheed, G. Maavehi, Malé
- Fathimath Azma, Nursery, Miskihmagu, Gn. Fuvahmulah
- Ahusal Mohamed, Bashimaage, HA. Hoarafushi
- Fathimath Yamna, Alimas Villa, S. Meedhoo
SDFC’s integration into BML marks a significant step towards enhancing SME development across the country, with a strong focus on innovation, inclusivity, and sustainability.
