Press Release: Institute of Directors Maldives successfully concludes inaugural maldives governance conference 2024

PRESS RELEASE

FOR IMMEDIATE RELEASE

INSTITUTE OF DIRECTORS MALDIVES SUCCESSFULLY CONCLUDES INAUGURAL GOVERNANCE CONFERENCE FEATURING INTERNATIONAL GOVERNANCE EXPERTS

Kurumba Maldives Resort, Maldives – 29 August 2024 – Institute of Directors Maldives (“IOD Maldives”) has successfully concluded its inaugural Maldives Governance Conference 2024, held today at the Kurumba Maldives Resort. The conference, themed "Elevating Corporate Governance for a Prosperous Future," featured a distinguished lineup of international experts and local leaders gathered to advance excellence in corporate governance.

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.

The event began with an 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.”

Dr Shougee in his speech referenced His Excellency President Dr Muizzu’s words addressing the opening ceremony of MNU’s Theveli Conference, Dr Shougee said “ in referring to the endeavour of research, President Dr Mohamed Muizzu said, and I quote, “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.”

Ms. Kirsten (KP) Patterson, Chair of the Global Network of Directors Institutes (“GNDI”). Ms Patterson 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. Strong governance can have a transformative impact on organisations, economies, and communities. The establishment of the IOD Maldives will undoubtedly lead to stronger more resilient business 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 event featured renowned international governance experts including Ms Maali Q Khader, CEO of the Middle East Institute of Directors who facilitated a session on boardroom performance; and Mr Paul Smith, Board Futurist & Special Advisor to the IOD Maldives who spoke on artificial intelligence in governance. The event also featured key stakeholders from the local corporate governance ecosystem.

At the opening panel discussion on “Setting the Governance Agenda for the Maldives”, Mr Abdullah Zakariyya, Director General Pension Department of CMDA spoke about the work that has already been done to advance corporate governance in the nation and advocated for transparency. Mr Mohamed Inaz, Director Climate Change & Sustainable Development of Nexia Maldives encouraged us to bridge the inter generational gap; and critically reminded us that all board decisions must pass through a sustainability filter to ensure longevity of the business for business resilience.

In the closing panel discussion titled “Vision for the Future of Corporate Governance in the Maldives”, speakers Ms Maali Q Khader, CEO of the Middle East Institute of Directors and Mr Hamdhy Ageel, President of the Privatisation and Corporatisation Board discussed the opportunities ahead for collaboration within the ecosystem using lessons from international organisations.

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.” Ms Nurain also lent her support to Chief Guest Dr Shougee’s remarks in quoting His Excellency Dr Mohamed Muizzu on a collective effort and working with all stakeholders for research. In closing, on behalf of the IOD Maldives Steering Committee, Ms Nurain thanked local leaders and stakeholders including government, SOEs, businesses, NGOs, and young professionals that took part and lent their support to this inaugural conference.

The Maldives Governance Conference was made possible through the support of strategic partners Maldives Capacity Development and Governance Institute, Women on Boards, and Kandūfā Foundation; sponsor Hotels & Resorts Investment Maldives; and event partner Kurumba Maldives Resort.

For those interested in joining future discussions on corporate governance, membership and strategic partnership options remain open. Attendees can explore best practices in ESG, artificial intelligence, and boardroom performance, and collaborate on creating a roadmap for corporate governance excellence.

For more details or to secure a place at upcoming events, please contact us at contact@iodmv.org. Additional information is available at www.iodmv.org.

CONTACT:

Events Team

IOD Maldives

Email: contact@iodmv.org

Phone: +960 9200 700

Website: www.iodmv.org