The Pension Office’s Chief Legal Officer Abdulla Fikry and Head of Investment Haifa Ahmed have resigned from their positions.

Haifa resigned today. Fikry resigned earlier this week. The exact reason why these two officials left their positions is not yet clear.

However, their resignations come at a time when rumours are spreading that the government’s efforts to raise a 2.4 billion rufiyaa bond through the Pension Office have resumed.

This is not the first time senior officials at the Pension Office have resigned in connection with this matter. Previously, senior officials at the office have stepped down from their positions on multiple occasions. Those officials resigned following the Pension Office board’s decision to sell the 2.4 billion rufiyaa bond that the Pension Fund had invested in to the MMA (Maldives Monetary Authority), and use those funds to invest in a government bond.

After that work had been on hold, rumours have spread that new officials have been appointed to the positions vacated by those who resigned, and the work is now being resumed.