President Dr Mohamed Muizzu has appointed Hassan Zareer as the new Minister of Finance and Public Enterprises, following the resignation of Moosa Zameer.

Zareer received his letter of appointment during a ceremony held at the President’s Office on Monday evening. He was sworn in before Supreme Court Justice Uz Mohamed Saleem and signed the declaration of oath.

A finance professional with more than two decades of experience in taxation, auditing and compliance, Zareer most recently served as Director of Finance and Group Chief Compliance Officer at Villa Shipping and Trading Company. He also previously served as Chairman of the Bank of Maldives and as Deputy Commissioner General of Taxation.

The appointment comes after Moosa Zameer stepped down from the post earlier on Monday. Government Spokesperson Mohamed Hussein Shareef confirmed the resignation but did not disclose the reason. Local media have reported that Zameer resigned due to medical reasons.

Zameer joined President Muizzu’s Cabinet in 2023 as Foreign Minister before being reassigned to the Finance Ministry in 2024. Earlier this year, his portfolio was expanded to include public enterprises following a Cabinet reshuffle.