President Mohamed Muizzu has appointed Hamdhy Ageel as the new President of the Privatization and Corporatization Board (PCB).

Ageel graduated with a Master of Commerce from Australia’s Curtin University and previously held the position of Managing Director at Maldives Road Development Corporation (RDC). He has also served as the Managing Director of Fuel Supply Maldives (FSM).

Hassan Mughnee was subsequently appointed a member of the PCB by the President.

Mughnee holds a Master of Business Administration with a major in International Business (Finance and Economics) from Brandeis International Business School in Massachusetts, USA. His previous roles include serving as the Minister of State for Environment, Climate Change, and Technology, as well as holding the position of Managing Director at the State Electric Company (STELCO).

The PCB, which appoints directors to state-owned enterprises, currently consists of seven members; however, President Muizzu’s recent appointments have to be submitted to the Parliament for approval.