Housing Development Finance Corporation Plc
HDFCAbout
Housing Development Finance Corporation (HDFC) was incorporated in 2004, by a Presidential Decree under the Companies Act. (Act No. 10/96). HDFC's commercial operations commenced on 29th March 2004 with hundred percent shareholding by the Government of Maldives which later in 2008 was privatized with the shareholding from ADB, IFC and HDFC Investments Ltd., (India) holding 51% of the share and the 49% of the shares by the Government of Maldives. Having restructured its capital, and with new lines of long-term funding, HDFC re-entered the market for mortgage loans for housing needs of individuals and families. HDFC is unique as the only mortgage housing institution in the Maldives. We take pride in the fact that even today with the staff strength of 35 employees, our faith has not altered a bit as our commitment towards our customers has only increased everyday which pass by. As the demand for housing loans continue to grow which exceeds the supply, the demand for Islamic facilities is growing at a faster speed than anticipated and to find the matching funds, we have structured long-term Sukuk in MVR as the way forward to cater Islamic facilities. We have issued islamic sukuk. HDFC remains well positioned to deliver superior performance in the coming years due to its deep expertise in mortgage financing, and ability to adapt its portfolio mix to changing market conditions, the ongoing benefits of continued cost initiatives, a strong balance sheet and a proven risk management framework and culture.
Mission
Our mission is to offer financial and social strength to all Maldivians by providing home loans and other savings and investment products managed professionally and profitably to the highest International standards, and to the complete satisfaction of all stakeholders.
Vision
Our vision is to provide decent and affordable homes in a safe and healthy environment, and work towards uplifting the living standards of all Maldivians by becoming the market leader for financial services in the Maldives.
Share Details
| Type | Entity Name | Percent |
|---|---|---|
| Government | The Government of the Maldives | 49.00% |
| Investors | International Financial Corporation | 18.00% |
| Investors | Asian Decelopment Bank | 18.00% |
| Investors | HDFC investment Ltd (India) | 15.00% |
Board Members
Vacant
Non-Executive
- - - - -
Chairman
HDFC Investments Ltd
Non-Executive
Managing Director
HDFC Investment
Non-Executive
Director
ADB
Non-Executive
Director
GoM
Non-Executive
Director
GoM
Non-Executive
Director
HDC Bank
Non-Executive
Alternate Director
GoM
Non-Executive
Alternate Director
ADB
Vacant
Non-Executive
- - - - -
Alternate Director
IFC