MIFCO’s chief suspended amid inquiry

Ahmed Samah Rasheed, the chief executive officer of Maldives Industrial Fisheries Company (MIFCO), has been placed under two-week suspension.

The Privatization and Corporatization Board (PCB) made the decision on Monday. It comes at the heels of a letter sent by the board listing serious allegations against Samah.

In a press statement on Monday, PCB said that it was conducting an inquiry in response to a corporate governance-related complaint filed against Samah, and has therefore decided to suspend him for 14 days in order to accommodate a full inquiry.

A previous letter sent by the PCB to Samah, which leaked over social media, highlighted 12 main allegations; including nepotism in the hiring process and misuse of company resources for political purposes.

However, the PCB has not made an official comment regarding the leaked letter.