The Capital Market Development Authority (CMDA), has made amendments to their Corporate Governance Code, making it mandatory for all companies registered in the Maldivian Stock Exchange to have at least two women on their Directorial Boards as of this year. Additionally, they state that these Directorial Boards must consist of at least 30% women by the end of 2016.
In their press release, dated 23rd January 2014, the authority states that they have made these amendments in an effort to increase women participation in Directorial Boards. Hope for Women would like to recognize these efforts of CMDA, and congratulate the CEO of CMDA, Ms. Fathimath Shafeega, for leading the authority in this decision.
At Hope for Women, we believe that women involvement in decision making levels is necessary for further development of our society, and we believe that temporary special measures, such as these, are a necessary first step in ensuring that women are present at these levels.