Noorbaan Fahmy has been appointed to lead the Maldives Securities Depository (MSD). The official announcement was made on Wednesday.
Besides this, she has also been appointed as the Chief Strategy Officer of Maldives Stock Exchange (MSE). Additionally, she will serve on the Board of both the companies.
This shuffle has been effective since January this year.
MSD highlights these administrative changes are crucial towards streamlining their operations, strengthening accountability, and achieving strategic goals aimed at elevating the Maldivian capital market.
Noorbaan Fahmy is an experienced professional known for holding multiple senior positions within the MSD and MSE over the past seven years. In addition to serving as the Chief Operating Officer, she had also served as the Legal Counsel and Company Secretary.
She previously held the position of Counsel at the Capital Market Development Authority (CMDA).
The new MSD Chief is the spouse of Dr. Shah Mahir, the Managing Director of the State Pharmaceutical and Medical Supply Corporation Limited, a state-owned enterprise established under the current administration for the procurement of medicines to the Maldives.
She is also the sister of former MP Alhan Fahmy, who has been accused of obtaining funds through fraudulent schemes involving a large number of people.