The board of the Fiji Development Bank has defended its decision to appoint former ANZ country head to lead the bank.

The bank issued a statement after comments made by SODELPA Member of Parliament, Aseri Radrodro, regarding the appointment of Saud Minam as chief executive officer (CEO).

The FDB Board said it based the selection of the chief executive officer on the strategic requirements of the role at one of Fiji’s most important financial institutions.

The selection was not based on ethnicity, the board of the Fiji Development Bank, said.

Mr Minam is a Fijian citizen of Pakistan descent.

The board said its objectives were to appoint an experienced leader with the relevant international commercial banking experience, along with an extensive knowledge of Fiji’s financial and economic sectors, as well as the expertise to guide Fiji Development Bank through the current environment.

The board said: “After a thorough, rigorous and transparent recruitment process conducted with the assistance of KPMG, the chief executive officer’s role was offered to Mr Minam who met the requirements fully in a fair, merit- based process.

“More than 3700 Micro, Small and Medium Enterprises (MSMEs) currently served by the FDB, along with other stakeholders and the Fijian Government, expect nothing less than a meritorious candidate to guide their financial institution through the current unchartered COVID- induced terrain.

“With Mr Minam at the helm, the FDB will continue delivering on its strategic objectives of assisting our MSMEs and revitalising our various businesses through development finance and access to capital.
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