Maldives
Invitation for Independent Director Applications at SME Digital Private Limited
SME Digital Private Limited opens for applications for Three (03) Independent Directors from qualified and experienced individuals to serve as Independent Directors on its Board.
SME Digital will be accepting applications for Independent Directors starting from 26th March 2026 till 05th April 2026, 10:00 am via email as instructed within.
Term of Appointment
- Each Independent Director will serve for a term of two (02) years from the date of appointment, in accordance with the Articles of Association of SME Digital and applicable regulations.
Eligibility Criteria
Applicants must meet the criteria for Independent Directors as stipulated by corporate governance regulations and other applicable laws, including:
1. Professional Qualifications & Experience
a) Minimum undergraduate degree from a recognized university in a field relevant to business operations.
b) At least five (05) years of government or private sector experience in a related field.
c) Strong understanding of banking, financial services, investment business, and risk management.
2. Independence and Integrity
a) Must not have direct or indirect ownership of 1% or more equity in the SME Digital, either individually or through immediate family or another entity.
b) Must not represent a shareholder holding more than 1% equity in the SME Digital.
c) Must not be employed, or have been employed in the past four (04) years, by the SME Digital, its major shareholders (except the Government of Maldives), or any subsidiary, branch, or associate of the SME Digital or its major shareholders.
d) Must not hold credit facilities or collateralized assets with the SME Digital, except:
i. Credit card facilities;
ii. Credit facilities granted at arm’s length where the total balance does not exceed MVR 3,000,000 (or equivalent);
iii. Collateralized assets from which the member or family does not derive any benefit.
e) Must not have an immediate family member on the Board or in Senior Management of SME Digital.
f) Must not be affiliated with a significant customer or any party receiving significant funding from SME Digital or its related parties.
g) Must not have served on the Board for eight (08) years or more, consecutively or non-consecutively, unless at least four (04) years have passed since last service, in which case a maximum of four (04) additional years may be served.
h) Must not be subject to any other circumstances that could affect independence of judgment.
i) Must have high integrity and good reputation, with no history of bankruptcy, fraud, financial misconduct, or criminal convictions that could affect performance as a director.
3. Fit-and-Proper Requirements
a) Satisfy the fit and proper criteria under relevant laws and regulations, including competency, good reputation, mental capacity, and absence of conflicts of interest.
b) Ability to dedicate sufficient time to discharge responsibilities effectively.
c) Must be between 30 and 70 years of age.
Documents for Submission
Applicants must include the following documents in their submission:
- Cover letter expressing interest and suitability;
- Completed independence and fit-and-proper declaration form (attached within);
- Completed record clearance form (attached within)
- Curriculum vitae detailing qualifications and experience; and
- Copies of academic and professional certificates (accredited or attested).
Selection Process
Applications received will first be reviewed and shortlisted through an internal evaluation, followed by regulatory screening by MMA. The final candidates will then be presented at the shareholders meeting where shareholders will elect the successful Independent Directors.
- Applicants meeting the criteria stated within are requested to submit the above via email to [email protected] before the deadline.
- For further enquiries, please contact the Company Secretary, Hussain Tholal via 3026010 or [email protected]during 08:00 am till 04:00pm from Sunday to Thursday.
- Incomplete or late applications will not be considered.
- The Board of SME Digital reserves the right to accept or reject any application without any reason.
