Board of Directors
Our vision to add value to our customers and stakeholders through service excellence is supported by our leadership. The unwavering dedication from the leadership to this philosophy, cascades down the organization hierarchy to define a culture of steadfast service and growth, delivered through our employees across the organization.
Mr. Lars Eugen Petre
Chairman of the Board
Appointed as the Chairperson of MFLC on June 14, 2014, Mr. Lars Petre represents the major shareholder of the company. Mr. Lars Petre has 45 years of experience in the tourism and travel industry. A pioneer investor in the Maldives tourism industry, his investments in the Maldives span partnerships with Kuredu, Komandoo, Hurawalhi, Kudadoo, and Innahura resorts together with the soon to open Jawakara islands. Prior engagements of Mr. Lars include being a shareholder and Board Director of Trans Maldivian Airways (TMA) – developing the operations to become the largest seaplane fleet in the world. Internationally, Mr. Lars Petre has investments in the Seychelles, where he is a partner in Hilton Northolme Resort and Spa and the Doubletree by Hilton Seychelles Allamanda Resort and Spa.
Dr. Ibrahim Vishan
Dr. Ibrahim Vishan was appointed to the Board of Directors of MFLC as a non-executive, non-independent director on April 09, 2014, by the major shareholder of the company. Dr. Vishan has an academic background in tourism and business economics, having completed his education through to doctorate in the UK in 2013. He has previously worked as Manager of Research and Development within the Maldives Association of Tourism Industry (MATI), which represents over 70 resort businesses and tourism operators where interactions such as the IMF, World Bank, Government Ministries, private sector businesses, NGOs, and local communities; has given him insight into various stakeholder issues in the Maldives. Currently, Dr. Vishan is the Managing Director of Champa Brothers Maldives Pvt. Ltd. Managing a diverse portfolio including leasing and banking, healthcare, media, telecommunications, resorts and hotels, commercial and residential real estate, aviation, and marine transportation, logistics, fuel, and online travel technology.
Ms. Nadiya Hassan
Ms. Nadiya Hassan was appointed as non-executive, independent director of MFLC on July 15, 2021. Ms. Nadiya Hassan has substantial experience in the Maldives financial sector. She worked at the Ministry of Finance, Maldives Monetary Authority (MMA), and held several leadership positions in the Bank of Maldives (BML), during which included responsibilities of representing BML on the MFLC board, serving as the Chairperson of MFLC from 2004 to 2006. Furthermore, Ms. Nadiya also held the position of the Chief Executive Officer of the Capital Market Development Authority (CMDA) and Executive Director on the Board from (October 2016 to August 2019). Professionally, Ms. Nadiya is a Chartered Banker (AICB) and holds a Master of Arts in Banking and Finance from Bangor University, UK. Ms. Nadiya is a shareholding director of MFLC and does not hold a directorship position in any other company.
Ms. Ibthishama Ahmed Saeed
CEO & Managing Director
Ms. Ibthishama Ahmed Saeed took the roles of Managing Director and CEO on September 01, 2021. Prior to her assignment, she has been serving as a Board Director since January 01, 2021, representing the major shareholding company. Ms. Ibthishama Ahmed Saeed has a career approaching two decades of executive service across various industries, serving banking, aviation, hospitality, and health industries. Her previous Board Directorship appointments involve from 2015 to 2019, serving the Bank of Maldives, sitting in the Board Credit Committee, and similarly in the Appointment and Remunerations Committee. Similarly, she also served as the Chairperson of Maldives Tourism Development Corporation from 2015 to 2016. Ms. Saeed holds a Master of Arts in Marketing Communication from the University of Westminster, United Kingdom, and a Bachelor of Commerce from Kerala University, India.
Mr. Chandrapala Meranchi Abeysekera
Mr. Chandrapala Meranchi Abeysekera is a non-executive, non-independent director of MFLC and was appointed to the Board on June 14, 2014, to represent the majority shareholder. Mr. Abeysekera is a retired banker with over 40 years of commercial banking experience and having served MFLC as the CEO and Managing Director. Prior to his appointment at MFLC. He was the Assistant General Manager-Corporate Banking and International Banking of Commercial Bank of Ceylon Plc (CBC), Sri Lanka. Mr. Abeysekera was also in charge of the CBC loan portfolio in the Maldives since 1999. Mr. Abeysekera holds a Diploma in Bank Management from the Bankers Institute of Sri Lanka and is an Associate of the Institute of Bankers of Sri Lanka. Mr. Abeysekera does not hold a directorship position in any other company. Prior engagements of Mr. Lars include being a shareholder and Board Director of Trans Maldivian Airways (TMA) – developing the operations to become the largest seaplane fleet in the world. Internationally, Mr. Lars Petre has investments in the Seychelles, where he is a partner in Hilton Northolme Resort and Spa and the Doubletree by Hilton Seychelles Allamanda Resort and Spa.
Ms. Aishath Arsha
Ms. Aishath Arsha was appointed as non-executive, independent director of MFLC on July 15, 2021. Ms. Arsha credits her broad experience in the banking and finance industry both locally and internationally. Her previous responsibilities include having served at the Bank of Maldives in the role of Head of Risk and Re-engineering from 2011 to 2014 and prior to that being employed as a Relationship Manager at Westpac Banking Corporation, Australia from 2007 to 2010. As a Board Director, she served Bank of Maldives Plc from May 2015 to June 2019. Ms. Arsha has a Master’s degree in International Economics and Finance from the University of Queensland, Australia, and a Bachelor of Business (Banking and Finance) degree from Charles Stuart University, Australia. Ms. Arsha is a shareholding director of MFLC and further serves in the capacity of Board Director at Maldives Airports Company Ltd and Business Director at Maldives Boat Club Pvt. Ltd.
Mr. Sunil Balakrishnan
Mr. Sunil Balakrishnan is a non-executive, non-independent director of MFLC and was appointed to the Board on June 14, 2014, to represent the majority shareholder. Mr. Balakrishnan is a Chartered Accountant by profession. Having commenced his career in the Maldivian tourism industry through Reethi Rah Resort, Mr. Balakrishnan joined KASA Holdings Pvt. Ltd in 2000 to gain broad experience across various industries and the local economy structured heavily on the performance of tourism sector performance. Counting over two decades of service, Mr. Balakrishnan presently serves the full-time position of Chief Financial Officer (CFO) of KASA Holdings. Mr. Balakrishnan holds a degree in Mathematics, graduating from Mahatma Gandhi University, Kerela, India. Mr. Balakrishnan does not hold a directorship position in any other company.