Zareer resigns from BML to take over MIRA

Hassan Zareer has resigned from his post as the chairperson of the Bank of Maldives (BML).

In a statement on Thursday morning, the national bank said Zareer resigned from the bank’s board as the Parliament had approved his upcoming appointment as the commissioner general of taxation.

Zareer was appointed as the chairperson of BML’s board of directors in an Extraordinary General Meeting (EGM) held on March 25.

BML’s board is composed of 11 members; eight directors appointed by the government and three elected by the bank’s shareholders.

Following Zareer’s resignation, and the vacancy of two government-appointed slots, the board now has nine members.

BML said it plans to hold an EGM in July, to fill the vacancies.

The position of commissioner genera of taxation fell vacant after Fathuhulla Jameel resigned from the post in February, to contest the parliamentary elections.

This prompted the President’s Office to open applications for the position.

President Dr. Mohamed Muizzu submitted the names of eligible candidates to the Parliament on March 13.

The names were ranked based on his preference, with former tax commissioner Yazeed Mohamed on top of the list, followed by Zareer, who had served as Yazeed’s deputy.

But the Parliament’s Economic Committee, which vetted the candidates, approved Zareer for the post, instead of Yazeed.

Yazeed received four votes, while Zareer received 10 votes.

Zareer’s appointment was approved by the Parliament with the unanimous consensus of 45 members on May 13.