Badhuruddheen Hassan Appointed Managing Director of SDFC

Badhuruddheen Hassan has been appointed as the new Managing Director of the SME Development Finance Corporation (SDFC), which has become a subsidiary of the Bank of Maldives (BML).

Badhuruddheen, who previously served as BML’s Director of Retail and SME Banking, brings significant experience in the financial sector to his new role. His appointment comes after the government transferred its stake in SDFC to BML, a move approved by the Cabinet earlier this year.

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With the transition, SDFC will now operate under BML as a dedicated Islamic digital bank designed to support the growth of small and medium enterprises in the Maldives. The institution will focus on providing Islamic financing solutions through advanced digital platforms.

SDFC’s strategy will prioritise financing for start-ups, women-led enterprises, fishermen, farmers, agribusinesses, sustainable ventures, and businesses in the e-commerce sector, aiming to strengthen SME development across the country.