President makes new nomination for MMA governor role

President Abdulla Yameen has nominated Dr Azeema Adam as the new Governor of the Country’s central bank, the Maldives Monetary Authority (MMA).

Dr Azeema’s nomination comes after Yameen had nominated Ibthishama Ahmed Saeed, an associate director at the Bank of Maldives, before withdrawing her name amid suggestions the candidate was not qualified for the role.

Local media today reports that Dr Azeema – currently Assistant Governor and Chief Economist, Monetary Policy, Research at the MMA – holds a PhD in Economics a Master’s Degree in International Development and Finance. Dr Azeema’s 2012 thesis examined exchange rate issues in the Maldives.

The governor’s position became vacant after Dr Fazeel Najeeb tendered his resignation at the end of December. In his parting speech, Najeeb warned the government against having to print additional money to meet the “far too hefty expenses of many state institutions”.