New military welfare company formed
Banks were refusing to lend to the existing welfare companies.
17 Oct 2018, 9:00 AM
President Abdulla Yameen has formed a new welfare company for the Maldives National Defence Force, a month before he is due to leave office.
The Sifainge Ekuveri Kunfuni (Military Friendship Company) was instituted as an independent legal entity with a capital of MVR 1 billion (US$64 million), according to a presidential decree published Monday on the government gazette.
Defense Minister Adam Shareef Umar announced on his Facebook account that the new company will help “improve the welfare and finances of the military.”
“Forward Maldivian soldiers, forward Maldives,” he added.
Become a member
Get full access to our archive and personalise your experience.
Already a member?
Discussion
No comments yet. Be the first to share your thoughts!
No comments yet. Be the first to join the conversation!
Join the Conversation
Sign in to share your thoughts under an alias and take part in the discussion. Independent journalism thrives on open, respectful debate — your voice matters.
