News Desk
KURUMBA, MALDIVES — August 29, 2024 — The Institute of Directors Maldives (IOD Maldives) successfully launched its mission to elevate corporate governance in the Maldives with its inaugural Maldives Governance Conference 2024, held at the Kurumba Maldives Resort. The event, themed “Elevating Corporate Governance for a Prosperous Future,” brought together a distinguished assembly of international governance experts and local leaders to discuss and advance the standards of corporate governance across the nation.
This landmark event marked the official launch of the IOD Maldives, an independent non-profit organization dedicated to fostering corporate governance skills and knowledge among directors, advisors, young professionals, and academics in the Maldives. One of the key announcements at the conference was the initiation of a comprehensive benchmark study on the state of corporate governance in the Maldives, aiming to gather insights from various sectors, including private, family-led, and small to medium enterprises.
The conference commenced with an inspiring address by Chief Guest Dr. Mahamood Shougee, Chancellor of the Maldives National University. Dr. Shougee articulated a vision for the IOD Maldives, describing it as a professional body that will create opportunities for networking, learning, teaching, and enhancing corporate governance within the country.
In his speech, Dr. Shougee referenced the words of His Excellency President Dr. Mohamed Muizzu, who recently addressed the opening ceremony of MNU’s Theveli Conference. Dr. Shougee quoted President Muizzu, saying, “I urge all stakeholders, academia, researchers, policymakers, and the private sector, as well as the public, to collaborate in this important endeavour. The challenges we face require a collective effort, and together, we can build a brighter future for the Maldives, informed by the power of research and driven by the pursuit of knowledge.”
Highlighting the significance of the event on an international scale, Ms. Kirsten (KP) Patterson, Chair of the Global Network of Directors Institutes (GNDI), remarked on the importance of the IOD Maldives’ establishment. “The launch of the IOD Maldives is a significant milestone not only for the Maldives but also for the global governance community as we welcome a new and vital member into our shared mission of good governance worldwide,” said Ms. Patterson. She emphasized that strong governance has the potential to transform organizations, economies, and communities. “The establishment of the IOD Maldives will undoubtedly lead to stronger, more resilient businesses and institutions across your nation. The IODMV is now part of a vast network of directors ensuring the voice of directors from the Maldives is heard on the global stage. The GNDI is a powerful alliance of leading director institutes from around the world, unified by the mission to promote excellence in governance that cuts across national boundaries.”
The conference featured sessions led by renowned international governance experts. Ms. Maali Q Khader, CEO of the Middle East Institute of Directors, facilitated a session on boardroom performance, while Mr. Paul Smith, a board futurist and special advisor to the IOD Maldives, spoke on the role of artificial intelligence in governance. The event also provided a platform for local stakeholders to discuss the current state and future of corporate governance in the Maldives.
During the opening panel discussion titled “Setting the Governance Agenda for the Maldives,” Mr. Abdullah Zakariyya, Director General of the Pension Department at the Capital Market Development Authority (CMDA), highlighted the progress made in advancing corporate governance in the nation, stressing the need for transparency. Mr. Mohamed Inaz, Director of Climate Change & Sustainable Development at Nexia Maldives, underscored the importance of bridging the inter-generational gap and ensuring that all board decisions pass through a sustainability filter to secure long-term business resilience.
Throughout the event, the leadership of Ms. Ayesha Nurain Janah, Chair of the IOD Maldives, was prominently highlighted. In her opening remarks, Ms. Janah emphasized that the IOD Maldives is not about competition but about collaboration across the governance ecosystem to elevate corporate standards. “IOD Maldives will be a knowledge and resource hub connected to a global network,” she stated.
Ms. Janah also expressed her support for Chief Guest Dr. Shougee’s call for a collective effort in research, quoting President Dr. Muizzu’s words on the importance of working together with all stakeholders.
In her closing comments, Ms. Janah extended her gratitude to local leaders and stakeholders, including government entities, state-owned enterprises, businesses, NGOs, and young professionals, for their participation and support of this inaugural conference.
The success of the Maldives Governance Conference was made possible through the collaboration of strategic partners such as the Maldives Capacity Development and Governance Institute, Women on Boards, and the Kandūfā Foundation. The event was also sponsored by Hotels & Resorts Investment Maldives and hosted by the Kurumba Maldives Resort.
For more details or to participate in upcoming events, interested parties can contact the IOD Maldives at contact@iodmv.org or visit their website at www.iodmv.org.
