recap of the inaugural conference of the institute of directors maldives on the theme: elevating corporate governance for a prosperous future

Opening address from Chief Guest Dr Mahamood Shougee, Chancellor of the Maldives National University. Dr Shougee shared the vision for IODMV as “creating a professional body of corporate directors in the Maldives, for networking, learning, teaching, and to enhance corporate governance.”

International Keynote Speaker Ms. Kirsten (KP) Patterson, Chair of the Global Network of Directors Institutes (“GNDI”) shared the significance of this event saying, “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."

Ms Ayesha Nurain Janah, Chair of the IOD Maldives, highlighted in her opening remarks that “IOD Maldives is not about being in competition, but rather about collaborating across the ecosystem to elevate corporate governance. IOD Maldives will be a knowledge and resource hub connected to a global network.”

The opening panel discussion on “Setting the Governance Agenda for the Maldives” featured Mr Abdullah Zakariyya, Director General Pension Department of CMDA; Mr Mohamed Inaz, Director Climate Change & Sustainable Development of Nexia Maldives; alongside Ms Kirsten Patterson, Chair of GNDI; with discussion facilitated by Ms Nurain Janah, Chair of IOD Maldives

Following the opening ceremony, the agenda moved into a sector-specific deep dive where participants shared challenges, opportunities as the starting point for the launch of the benchmark study on the State of Corporate Governance in the Maldives being led by the IOD Maldives

After lunch, Ms Maali Q Khader, CEO of the Middle East Institute of Directors, led a session on High Performance Boardrooms

The afternoon progressed with a fireside chat on Artificial Intelligence in Governance with Mr Paul Smith, Board Futurist & Special Advisor of IOD Maldives facilitated by Ms Kirsten Patterson, Chair of GNDI

The closing ceremony featured Mr Hamdhy Ageel, President of the Maldives Privatisation and Corporatisation Board alongisde Ms Maali Q Khader discussing the Vision for the Future of Corporate Governance

The inaugural Maldives Governance Conference took place on 29 August 2024 at Kurumba Maldives Resort

annual flagship event: THE Maldives Governance CONFERENCE

Set to be the flagship annual event for the Institute of Directors Maldives for years to come, we held the the inaugural Institute of Directors Maldives Governance Conference on 29 August 2024. Discussions covered the future of good corporate governance in the nation. Under the 2024 theme, 'Elevating Corporate Governance for a Prosperous Future,' this event brought together directors and stakeholders.

This inaugural Maldives Governance Conference marked the launch of the Institute of Directors Maldives, an independent non-profit association supporting to build corporate governance skills and knowledge in the country for directors, advisors, young professionals, and academicians. IOD Maldives also announced the launch of the benchmark study on the state of corporate governance in the Maldives gathering insights from various sectors including private, family-led, and small to medium enterprises. Read the press release for this year’s conference here.

OUR SPEAKERS

KEYNOTE: Kirsten (KP) Patterson, Chair of the Global Network of Directors Institutes

Kirsten Patterson (known as KP) is the Chair of The Global Network of Director Institutes (GNDI). The GNDI is a network of over 25 leading director institutes from across the globe representing more than 150,000 directors and other governance professionals. Established in 2012 to foster closer cooperation between its members, the global programme of reciprocity helps directors and boards unlock access to director resources from around the world. As part of her role as Chair of GNDI Kirsten also sits on the International Internal Audit Standard Setting Oversight Council (IPPFOC) where she sits alongside representatives from the OECD, World Bank and other international bodies.
KP is also the Chief Executive of the Institute of Directors in New Zealand, a role she has held since 2018. KP is a qualified lawyer and a Distinguished Fellow of the Human Resources Institute of New Zealand. She serves on the Boards of the mental health charity, Voices of Hope, is Chair of the Brian Picot Ethical Leadership Advisory Board at Victoria University in Wellington and an Ambassador for the Wellington Women's Homeless Trust. She is also a member of the New Zealand External Reporting Advisory Panel (responsible for accounting standards consultation).
A strong advocate of diversity, KP is a member of Global Women New Zealand and was one of the founding members of Global Women's 'Champions for Change', a group of senior executives and directors who commit to diversity in the workplace. KP was the founder and is Executive Sponsor for Chapter Zero New Zealand - the New Zealand Chapter of the World Economic Forum's Climate Governance Initiative - hosted by the IoD NZ to mobilise, connect, educate and equip directors and boards to make climate-smart governance decisions, thereby creating long term value for both shareholders and stakeholders.
CHIEF GUEST: Dr Mahamood Shougee, Chancellor of the Maldives National University

Dr. Mahamood Shougee assumed the position of Chancellor of the Maldives National University on 19 November 2023. His leadership in the education sector includes serving as the Minister of Education (2003–2005) and as the Deputy Minister of Education (2002–2003). He played a crucial role in the expansion of secondary and higher education opportunities in the Maldives from 1999 to 2005, including in the establishment of the Maldives Accreditation Board (currently MQA) for quality assurance of higher education.
Dr. Shougee’s academic background comprises a Bachelor of Education (Biology), a Bachelor of Arts (Economics), and a Master of Education degree from the University of Manitoba in Canada. He further obtained a PhD (Education) from the University of Toronto. During his time at the University of Toronto, he served as a member of the Academic Committee of the University’s Senate.
Beyond his contributions to education, Dr. Shougee served as the Minister of Tourism and Civil Aviation from 2005 to 2008, where he played a leading role in planning and expanding tourism in under-represented areas of the country. In addition, he chaired the Cabinet’s Economic Committee (2007) and served as a member of the Board of Directors of the Maldives Monetary Authority (2007).
Dr. Shougee has remained actively involved in higher education, occasionally serving as a visiting lecturer at Villa College and supervising graduate students from the Open University of Malaysia, Maldives National University, and Islamic University of the Maldives. His private sector experience includes working as a director (consulting) for the Villa Group and providing consultancy services for organisations such as UNESCO, the Asian Development Bank, and the Maldives Qualification Authority.
SPEAKER: Mohamed Inaz, Director of Climate Change & Sustainable Development, Nexia Maldives

Inaz has over 20 years of experience working on the field of environment, climate change, renewable energy and sustainable development in the Maldives, engaging with Government, local communities, private sector and international organisations. He was heading the Environment and Energy portfolio of UNDP Maldives for 8 years and was instrumental in managing & leading climate change related projects, low-emission and climate resilient programmes, disaster risk management programmes and ecosystem conservation projects. Inaz’s experience ranges from Environment Impact Assessments, disaster risk management, water resources, energy, waste management, conservation and other areas of sustainable development.
SPEAKER: Abdullah Zakariyya, Director General - Pension Supervision Department of the Capital Markets Development Authority (CMDA)

Mr Zakariyya is the Director General of the Pension Supervision Department at the Capital Market Development Authority (CMDA). He holds a Fellow Chartered Certified Accountant (FCCA) designation from the Association of Chartered Certified Accountants (ACCA) and has extensive teaching experience in local and international programs, including MBA courses at the Australian Institute of Business and the University of the West of England. Abdullah is involved in several committees, including the South Asian Federation of Accountants (SAFA), CMR Forum, Türkiye, Statistics Council, and the Institute of Chartered Accountants of Maldives. He has also served two terms with the Maldives Australia Alumni Association and remains an active member of MAA.
SPEAKER: Paul Smith, Board Futurist & Special Advisor of the IOD Maldives

Paul is known as the Board Futurist and one of the leading thinkers in corporate governance. He speaks around the world on the themes of impact governance, board effectiveness, inclusive decision-making and the use of technology in boardrooms, especially AI. He is on a mission to help all boards and directors become more effective stewards, and fit for the future.
In 2015, Paul founded Future Directors, a holistic governance technology platform dedicated to providing boards and directors of all types access to affordable and high quality education, resources and community. He is the bestselling and award-winning author of his first book Right Seat Right Table, host of the popular Future Directors Podcast and currently working on his second book, The Artificially Intelligence Boardroom.
He also spends his time mentoring chairs, founders and CEOs, as well as advising boards on their performance, processes and more. As Special Advisory to the Institute of Directors Maldives, Paul has supported the team with strategy, engagement and connections in readiness for this launch event.
SPEAKER: Maali Q Khader, CEO of the Middle East Institute of Directors

Maali is a highly experienced, effective and trusted lawyer and a leading regional expert in ESG (Environment, Social and Governance) activities in the Middle East. She currently serves as Chief Executive Officer at the Middle East Institute of Directors (MEioD), a group that provides advanced corporate governance advisory and capacity building to several prestigious organisations.
This journey formally started in 2012 when she founded and became a board member of the Jordan Institute of Directors, where she helped drive excellence in many leading organisations such as Arab Bank, Siniora Food, Kasih, PADICO Group and Medgulf.
Maali has received several recognitions for her hard work and effort, including: nominated Middle East's Most Admired Women Leaders to Follow in 2024 by Fortunes Time and 2023 Most Dynamic Business Leaders of the Middle East by Chief Navigator. Also, Maali has been recognised as a Rising Star of Corporate Governance by the Millestein Centre at Yale University (2010) and was declared by Trustworthy Business Behaviour magazine to be one of the top 100 Thought Leaders in Europe and the Middle East (2011). This has then expanded to cover the broader region of the Middle East through the MEIoD.
She has served as an advisor to many prestigious international organisations like the CIPE MENA Advisory Council, the OECD¨s Responsible Business Roundtable, and the International Finance Corporation (IFC) – a World Bank Group member. Maali also lectures in sustainability as part of the Sustainability MBA and in corporate governance as part of the Masters in Law offered at Middlesex University Dubai. She is a member of the New York Bar Association and of the Jordanian Bar Association. As a passionate advocate for best practice corporate governance and sustainability across the MENA region, Maali has written and contributed to several key publications regarding corporate governance, gender diversity, CSR and sustainability.
SPEAKER: Hamdhy Ageel, President of the Maldives Privatisation & Corporatisation Board

Mr. Hamdy Aqeel holds a Bachelor of Business Education (Economics) from the University of Wollongong (Australia). He also holds a Masters in Commerce (Economics and Finance) from Curtin University of Technology (Australia). Hamdy Aqeel has served in various government institutions for 16 years. His fields of work include the Ministry of Higher Education and Finance and he has also served as an advisor to the Board of the Asian Development Bank, an international bank. He has also worked in the Ministry of Housing and the Employment Tribunal, and was the Managing Director of the Maldives Road Development Corporation and the Managing Director of Fuel Supply Maldives, a subsidiary of STOC. He has also held senior positions in various private sector companies, providing consultancy and working in various associations. Hamdy Aqeel was appointed to the Privatization and Corporatization Board on 22 November 2023 as the President of the Board.