SDFC appoints Farihath as Operations Director

SME Development Finance Corporation (SDFC) on Tuesday announced the appointment of Fathimath Farihath Waheed as its Operations Director.

According to SDFC, Farihath under her new leadership role will be responsible for overseeing the strategic direction and management of the company’s core operational departments. Her portfolio will include administration, procurement, human Resources, marketing, business development and information systems.

Farihath’s career in the banking and financial services sector spans over 19 years.

She joined SDFC from the Bank of Maldives (BML), where she most recently served as the Head of Card Networks and Strategic Partnerships. She has also served in senior positions including Head of Card Payments and Governance and Head of Strategy and Change.

SDFC’s Managing Director Badhurudheen Hassan welcomed Farihath to the company’s leadership team.

"Her profound expertise in financial services, strategic change management, and building key partnerships will be invaluable as we continue to enhance our operational excellence and expand our support to the SME sector of Maldives,” he said.

Farihath holds a Master of International Business from Monash University Malaysia and has a chartered banker professional qualification from the Asian Institute of Chartered Bankers.

Farihath’s appointment to SDFC marks a number of changes within the top leadership of the company after it became a subsidiary of the BML, as the government transferred its stake in the SDFC to the national bank.

The move saw Badhurudheen, who previously served as BML’s Director of Retail and SME Banking, get appointed as the Managing Director of SDFC.

With the transition, SDFC now operates under BML as a dedicated Islamic digital bank, established to strengthen the growth of small and medium enterprises in the Maldives.

The bank has said it will focus on delivering Islamic financing solutions through advanced digital platforms, with a strategy prioritizing start-ups, women-led enterprises, fishermen, farmers, agribusinesses, sustainable ventures, and businesses in the e-commerce sector.