Mr. Lars Eugen Petré was appointed as Chairperson of the Board of Maldives Finance and Leasing Company (MFLC) on 14th June 2014, representing the company’s principal shareholder. Under his stewardship, MFLC has continued to strengthen its strategic governance framework, broaden its financial offerings, and enhance institutional resilience. With over 45 years of experience in the global tourism and travel industry, Mr. Petré is widely regarded as one of the pioneering investors in the Maldives tourism sector. His legacy of investment and development in the country spans several flagship resort properties, including Kuredu, Komandoo, Hurawalhi, Kudadoo, Innahura, and the expansive Jawakara Islands. His deep understanding of tourism driven economic ecosystems has played a significant role in shaping the luxury hospitality landscape in the Maldives. Beyond resort development, Mr. Petré played a pivotal role in the growth of the aviation sector in the Maldives. As a former shareholder and Board Director of Trans Maldivian Airways (TMA), he was instrumental in transforming the company into the largest seaplane operator in the world, facilitating seamless inter-island connectivity and supporting the growth of high end tourism in the archipelago. Internationally, Mr. Petré has extended his investment footprint to the Seychelles, where he is a partner in leading hospitality assets including the Hilton Northolme Resort and Spa and the DoubleTree by Hilton Seychelles Allamanda Resort and Spa. His diversified global experience brings valuable insight to MFLC’s strategic vision, especially in areas of cross-border investment, capital structuring, and enterprise development. Mr. Petré does not hold any significant shareholdings or executive or board positions in other financial institutions, ensuring full alignment and commitment to his fiduciary responsibilities at MFLC. His leadership continues to guide the company with a long term perspective focused on growth, innovation, and value creation for stakeholders.

Ms. Ibthishama Ahmed Saeed was appointed as Chief Executive Officer and Managing Director of Maldives Finance and Leasing Company (MFLC) on 1st September 2021, following her tenure as Deputy CEO from July to August 2021. Prior to this, she served as a Board Director at MFLC from January 2021, representing the interest of the company’s majority shareholder. Her leadership at MFLC is anchored in a strategic vision to strengthen institutional resilience, deepen financial inclusion, and drive innovation across the financial services ecosystem. Ms. Ibthishama is a seasoned executive leader with over 20 years of professional experience spanning public and private sector organizations in the Maldives and abroad. Her multidisciplinary expertise covers a diverse range of industries including banking and finance, aviation, tourism and hospitality, and healthcare making her one of the few Maldivian executives with such a wide reaching leadership portfolio. Her notable contributions in the banking sector include her service as a Non-Executive Director on the Board of the Bank of Maldives from 2015 to 2019. During her tenure, she played a key role in shaping the bank’s strategic direction through her active participation in the Board Credit Committee and the Appointments and Remuneration Committee, where she contributed to governance reforms, talent strategy, and credit oversight at a national level. In the tourism sector, Ms. Ibthishama served as the Chairperson of the Maldives Tourism Development Corporation (MTDC) from 2015 to 2016. In this capacity, she led strategic restructuring efforts and worked to revitalize investment and stakeholder confidence in public-private tourism development initiatives. Ms. Ibthishama has also held various senior management and advisory roles in the aviation and healthcare sectors, contributing to institutional restructuring, operational turnarounds, and governance reforms. Her cross sectoral leadership has consistently been marked by a focus on sustainability, regulatory compliance, stakeholder engagement, and value creation. Academically, Ms. Ibthishama holds a Master of Laws (LL.M) in Commercial Law from the University of the West of England, a Master of Arts in Marketing Communication from the University of Westminster, United Kingdom, and a Bachelor of Commerce from the University of Kerala, India. Her educational background complements her strategic leadership with strong foundations in legal and regulatory affairs, corporate communication, and business management. Ms. Ibthishama continues to be a prominent advocate for ethical governance, financial inclusion, and women’s leadership in business, and is recognized for her transformational leadership approach in both executive and board level roles.

Mr. Sunil Balakrishnan was appointed as a Non-Executive, Non-Independent Director on the Board of Maldives Finance and Leasing Company (MFLC) on 14th June 2014, representing the company’s majority shareholder. His appointment brings valuable financial expertise and strategic insight to the Board, particularly informed by his extensive experience in the Maldivian tourism sector and diversified business operations. A Chartered Accountant by profession, Mr. Balakrishnan began his career in the Maldivian tourism industry with the prestigious Reethi Rah Resort, where he developed foundational skills in finance and operations management. In 2000, he joined KASA Holdings Pvt. Ltd, a prominent investment group with diversified interests, to broaden his exposure to multiple sectors and the wider Maldivian economy, which is closely linked to tourism performance. With over two decades of professional experience, Mr. Balakrishnan currently serves as the Chief Financial Officer (CFO) of KASA Holdings Pvt. Ltd, where he oversees the financial management, planning, and strategic investment activities of the company. His leadership has been instrumental in ensuring robust financial controls, effective capital allocation, and sustainable growth across the group’s portfolio. Mr. Balakrishnan holds a Bachelor’s degree in Mathematics from Mahatma Gandhi University, Kerala, India, a qualification that complements his analytical acumen and strategic financial planning capabilities. He does not hold any significant shareholdings or board or managerial roles in other financial institutions, ensuring his dedicated focus on his fiduciary duties at MFLC. Mr. Balakrishnan’s blend of financial expertise, sectoral knowledge, and executive leadership continues to enhance MFLC’s governance and strategic oversight.

Mr. Chandrapala Meranchi Abeysekera was appointed as a Non-Executive, Non-Independent Director on the Board of Maldives Finance and Leasing Company (MFLC) on 14th June 2014, representing the company’s majority shareholder. His appointment brings a wealth of seasoned banking expertise and strategic leadership to MFLC’s governance. Mr. Abeysekera is a highly experienced banking professional with over 40 years of commercial banking experience. Notably, he has previously served MFLC as its Chief Executive Officer and Managing Director, during which time he played a pivotal role in shaping the company’s growth trajectory and strengthening its operational foundations. Prior to his tenure at MFLC, Mr. Abeysekera held the position of Assistant General Manager, Corporate Banking and International Banking at Commercial Bank of Ceylon Plc (CBC), Sri Lanka. In this capacity, he was responsible for managing CBC’s corporate banking portfolio, including overseeing the bank’s loan portfolio operations in the Maldives since 1999. His extensive regional banking experience has provided him with deep insights into cross-border financial management and corporate credit risk. 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, credentials that underscore his commitment to professional development and banking excellence. He does not hold any significant shareholdings or board or managerial roles in other financial institutions, ensuring his undivided attention to his fiduciary responsibilities at MFLC. Mr. Abeysekera’s vast experience in banking leadership, risk management, and regional finance continues to contribute significantly to the strategic oversight and sustainable growth of MFLC.

Dr. Ibrahim Vishan was appointed to the Board of Directors of Maldives Finance and Leasing Company (MFLC) on 9th April 2014 as a Non-Executive, Non-Independent Director, representing the company’s major shareholder. He brings to the Board a strong academic and professional background in tourism, business economics, and multi-sector investment management, with extensive experience navigating complex stakeholder environments. Dr. Vishan completed his higher education in the United Kingdom, culminating in a Doctorate in Tourism and Business Economics in 2013. His academic grounding is complemented by a career that spans public policy engagement, private sector leadership, and institutional governance. Prior to joining MFLC, Dr. Vishan served as Manager of Research and Development at the Maldives Association of Tourism Industry (MATI), a prominent industry body representing over 70 resorts and tourism operators across the Maldives. In this capacity, he was actively engaged with multilateral institutions such as the International Monetary Fund (IMF) and the World Bank, as well as with domestic stakeholders including government ministries, private sector entities, NGOs, and local communities. His work in this role provided him with broad insight into the socioeconomic and regulatory landscape of the Maldives, particularly in relation to tourism, economic development, and investment. In addition to his role on the MFLC Board, Dr. Vishan currently serves as the Managing Director of Champa Brothers Maldives Pvt. Ltd, a diversified conglomerate with interests spanning leasing and banking, healthcare, media, telecommunications, hospitality, real estate, aviation, marine transportation, logistics, fuel services, and online travel technologies. He is also a Board Director at Island Beverages Maldives Pvt. Ltd, further reflecting his leadership across various sectors. Dr. Vishan serves as a Non-Executive, Non-Independent Director of the Commercial Bank of Maldives (CBM). In line with regulatory requirements, his dual directorship roles at MFLC and CBM have been duly reviewed and approved by the Maldives Monetary Authority (MMA), ensuring full compliance with financial sector governance standards. Despite his broad business interests, Dr. Vishan does not hold any significant shareholdings or board or managerial roles in other financial institutions, ensuring his focus remains aligned with the fiduciary and strategic responsibilities entrusted to him. Dr. Vishan’s extensive experience in corporate strategy, stakeholder engagement, and sectoral diversification continues to add significant value to MFLC’s governance and long-term strategic planning.

Ms. Maryam Abdul Nasir was appointed as a Non-Executive, Independent Director of Maldives Finance and Leasing Company (MFLC) on 25th June 2025. She brings extensive expertise in public finance management, sovereign debt administration, and international development, strengthening the Board’s capacity in governance, risk oversight, and sustainable finance. Currently, Ms. Maryam serves as the Director General at the Ministry of Finance and Planning, where she leads the Public Finance Modernization and Reform Department. In this senior leadership role, she is responsible for spearheading reforms aimed at enhancing fiscal policy effectiveness, financial governance, and institutional modernization in the Maldives. Ms. Maryam’s prior roles include serving as the Chief Debt Management Executive at the Ministry of Finance, where she oversaw the country’s debt portfolio, ensuring prudent borrowing strategies and debt sustainability. Additionally, she represented the Maldives as the Alternate Governor for the Asian Development Bank (ADB), facilitating critical engagement with international financial institutions. Beyond her public sector accomplishments, Ms. Maryam has contributed globally as a V20 Climate Prosperity Fellow for the Climate Vulnerable Forum Vulnerable 20 Group, advocating for climate resilient economic policies for vulnerable countries. She also served as a Voice Secondee for IDA Strategy and Operations at the World Bank Group, where she supported strategic initiatives to enhance development financing and operational effectiveness. Her governance experience is further complemented by her tenure as a Board Member of the Maldives Pension Administration Office, where she contributed to the oversight and strategic direction of the national pension system. Ms. Maryam holds a Master’s Degree in Business Administration (MBA) and a Bachelor’s Degree in Business Administration, both from the Open University Malaysia. Her academic qualifications, combined with her broad professional experience, position her as a valuable contributor to MFLC’s strategic governance and oversight. She does not hold any significant shareholdings or other board or managerial roles in financial institutions, ensuring her independence and commitment to her fiduciary duties at MFLC.

Mr. Mohamed Inaz was appointed as a Non-Executive Independent Director of Maldives Finance and Leasing Company (MFLC) on 25th June 2025. He brings over 25 years of extensive managerial and technical experience in environment, climate change, and sustainable development within the Maldives. Currently, Mr. Inaz serves as the Director of Climate Change and Sustainable Development at Nexia Maldives Pvt Ltd. In this capacity, he leads strategic initiatives focused on environmental sustainability and climate resilience. Prior to this role, he held key managerial positions in the private sector and was responsible for overseeing the Environment and Energy portfolio at the United Nations Development Programme (UNDP) Maldives, where he also contributed significantly to the overall management of UNDP Maldives operations. Mr. Inaz has a distinguished track record of public service, having served in various capacities within the Government of Maldives. Throughout his career, he has been instrumental in shaping national policies and driving actionable programs related to sustainable development, climate adaptation, and environmental protection. He holds a Master of Science (MSc) degree in Geographic Information Systems (GIS) from Wageningen University and Research and the Institute for Aerospace Survey and Earth Sciences. His academic background combined with his practical experience enables him to provide valuable insights into integrating environmental considerations with strategic business and governance frameworks. Mr. Inaz does not hold any significant shareholdings or board or managerial roles in other financial institutions, ensuring his impartiality and dedication to his role at MFLC.