MIFCO’s CFO Ilyas Haneef resigns

State-fisheries company, Maldives Industrial Fisheries Company (MIFCO)’s Chief Financial Officer (CFO) Ilyas Haneef has resigned from his post.

MIFCO’S spokesperson confirmed Ilyas’ resignation to Sun.

Swiss national Dr. Vitaliy Lyubimov was appointed MIFCO’s Chief Executive Officer (CEO) on December 9, 2024 – replacing Ahmed Samah Rasheed – who was dismissed from the post on May 21, 2024. Samah was dismissed from the post following grave corruption allegations against him.

President Dr. Mohamed Muizzu has pledged to root out corruption within MIFCO from its core. He said a foreign national was appointed to lead the company for this purpose.

The state fisheries company had come under fire multiple times for its failure to settle payments owed to fishermen for their catches in a timely manner. However, the current administration has begun disbursing payments for fishing boats with BML accounts within 48 hours.