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Our Story

Collective industry expertise spanning across three decades

We are like-minded. We have collective industry expertise spanning three decades. We have seen how the Maldives transformed. We know its economic and political history and we have painted a trajectory of great promise for the country.

We shared the same vision, that finance can transform our society. We came together and formed the First National Finance Corporation (First National) on the 15th of July 2021. 

With our education and industry experience deeply rooted in finance, and with our collective passion, we believe we can bring about a substantial transformation to the financial services industry through First National.

Board of Directors

 
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Rifaath Jaleel

Chairperson

Rifaath Jaleel is the Managing Partner of MHPA LLP, with close to 30 years of professional experience in assurance and advisory services. He is a member of CPA Australia and the Institute of Chartered Accountants of Maldives. He sits on the Government's Tax Reform Committee and also the Business Faculty Advisory Committee of the Maldives National University’s Business School.

 

He has been a Board member of the Capital Markets Development Authority and the Chairman of the Maldives Finance Leasing Company for several years. Rifaath acts in an advisory capacity to several high-profile private sector organizations, SOEs, Banks, multinationals and has considerable experience in cross-border transactions.

 

Hassan Ziyath

Chief Executive Officer (CEO)

Hassan Ziyath served as the Auditor General of Maldives from 2014 – 2021.
During his tenure as the Auditor General, he undertook several reforms at the AGO office including strategic planning, cultural change, and establish strategic international partnerships. Also, the first-ever professional accounting body of Maldives was established following the ratification of the Chartered Accountant’s Act 13/2020 during his tenure.

As the first President of the Institute of Chartered Accountants of Maldives (CA), Mr. Hassan Ziyath spearheaded the institution-building process which included the establishment of the governance, stakeholder engagement, and strategic planning process.

 

Hassan Ziyath is a Member of The Chartered Institute of Management Accountants (CIMA).

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Abdul Haleem Abdul Latheef

Chief Investment Officer (CIO)

Abdul Haleem Abdul Latheef started his career as an academic and held the position of Head of the Department of Accounting and Finance of the now  Business School of Maldives National University.

 

He served as the CFO at Pension Office, leading the investment management, investment operations, and financial management functions. Haleem also worked in the banking (Bank of Maldives PLC and Mauritius Commercial Bank) insurance ( Solarelle) and consulting industries. 

He is also the current President of Maldives Red Crescent and a Board Member of the Pension Fund. Abdul Haleem Abdul Latheef is a graduate of the University of Wollongong, Australia, and a Chartered Management Accountant holding membership with CIMA (UK). He has over 20 years of experience.

 

Hassan Mohamed

Director

Hassan Mohamed, the Managing Partner of Crowe Maldives LLP, has more than 20 years of professional experience specializing in Audit, Accounting, Tax, and Advisory services.

 

He has worked extensively with clients advising on the application of International Financial Reporting Standards (IFRS). He is also a Member of the State Internal Audit Committee of the Government of Maldives and Vice President of the Institute of Chartered Accountants of Maldives.

He is a Board member of Maldives Islamic Bank.

 

Hassan is a Fellow Member of the Association of Chartered Certified Accountants (FCCA).

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Ahmed Didi

Non-Executive / Independent Director

Ahmed Didi, the Co-Founder of Focus Computers and Focus Education, has more than 25 years of entrepreneurial experience in the private sector.

 

He has worked extensively in the organizational development of several companies and has co-founded and invested in various start-up businesses. Ahmed Didi acts in an advisory capacity to several companies and has aided in the promotion of good governance in the companies. 

 

Our Founders

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Rifaath Jaleel

Chairperson

Non-Executive / Independent Director

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Hassan Ziyath

Chief Executive Officer

Executive /
Non-Independent Director

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Abdul Haleem

Chief Investment Officer

Executive /
Non-Independent Director

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Hassan Mohamed

Director

Non-Executive / Independent Director

External Advisor

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Dr Ibrahim Zakariyya Moosa

Islamic Finance Advisor

Dr. Ibrahim Zakariyya Moosa is the Vice-chancellor of the Islamic University of the Maldives and the former rector of College of Islamic Studies, Male, Maldives.

 

He received his bachelor’s degree in Islamic Shar’iyyah from the Islamic University of Madinah in 1983. He successfully completed his master’s degree in Fiqh from the International Islamic University in Malaysia and in 2010 he was conferred with PhD in Fiqh and Usul al-Fiqh from the same university.

 

He served as a member of the parliament of Maldives for thirteen years and currently serves as a member of the Shar’iyyah advisory board of several financial institutions. He is a lecturer in the subjects of Islamic Shari’yyah and Law, at tertiary, undergraduate and postgraduate levels.  

 

His translations of Islamic banking and finance books to Dhivehi language are held in high regard among his students.  

 

Vision

Be the leading catalyst for financial sector development and integration of local economy to the global financial system

 
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Our Objectives

Integrating local economy to global financial systems

 

Our Values

Accountability and Integrity

At the heart of our business is accountability and integrity towards our investors and the community. We believe our actions will have a profound impact on our society.

Our actions will be well thought out, its immediate and future impact assessed and scrutinized through our governance system before execution. We will be honest and utmost faithful in our dealing with our clients, markets and the community. 

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Get in touch with us.