Jihad appointed Fenaka’s chief financial officer

Mohamed Jihad has been appointed state-owned Fenaka Corporation’s new chief financial officer (CFO).

Jihad was appointed to the post following the resignation of Abdulla Waheed, who previously held the post. Some media outlets reported that Waheed resigned on Monday.

Fenaka, in a post on X, thanked Waheed for his services.

In a later post, the company announced the appointment of Jihad as its new CFO and welcomes him to the company.

Prior to this, Jihad was serving as Fenaka’s chief resource officer.

Notably, the government relaxed policies governing the appointment of CFOs and chief internal auditor (CIA) to state-owned companies some four months ago to pave way for more applicants.

The Chief Financial Officer (CFO) holds an executive role within the company, overseeing its financial operations and strategic planning. The CFO is expected to report exclusively to the company’s board of directors and the managing director.

Fenaka has been the target of serious corruption allegations for years and is in mountains of debt.