Mr Deputy Speaker, Sir, I am informed that Mr. D.V. was appointed Chief Executive of the Financial Services Commission on a three years contract basis with effect from 16 September 2025, and he resigned with effect from 30 June 2026. With regard to part (a) of the question, I am informed that the terms and conditions of the contract of the former Chief Executive were as follows – (a) a monthly salary of Rs375,000; (b) a monthly entertainment allowance of Rs15,000; (c) an official car with a driver, and (d) 25% gratuity upon completion of 12 month of satisfactory service. Mr Deputy Speaker, Sir, with regard to official overseas visits undertaken, I am informed that during his tenure from 16 September 2025 to 30 June 2026, Mr. D.V. proceeded on three overseas missions at a total cost of Rs2,001,789. I am hereby tabling the details regarding the mission attended and the cost incurred for each mission in terms of air ticket, per diem, and other allowances. Finally, with regard to part (b) of the question, Mr Deputy Speaker, Sir, I am informed that Mr. D.V. notified the FSC on 01 May 2026 of his decision to step down from his position as Chief Executive for family reasons as he needed to be physically outside the country to attend to same.

Yes!

Thank you, Mr Deputy Speaker, Sir. Could the hon. Minister please advise the House, given the very short tenure of the ex-Chief Executive of the FSC, whether he was pressured in any manner by either politicians or whomsoever to leave the FSC at an earlier time?

Mr Deputy Speaker, Sir, in fact, there were some press reports – when he resigned recently – that there was pressure on him to resign for all sorts of reasons. It was also being said in certain quarters that there was pressure on him to resign. I had called him personally, at least twice, to have one-to-one conversation with him and asked him whether there was any issue. On both times, he reassured me that he was very committed to working at the FSC, and that, unfortunately, he had a very personal family situation that required for him to be abroad. In fact, between December and June, he had to travel back to his home country where his family is, at least three times, to attend to family matters. So, I can only say that I can only trust what he told me that he had to resign, unfortunately and regretfully, for family reasons.

Yes!

Can the hon. Minister inform the House as to whether the appointment of a new Chief Executive Officer is in the pipeline or any timeframe for such an appointment?

Mr Deputy Speaker, Sir, at the moment, there is a COO who has been recruited by the board, who is acting as Officer-in-Charge. The process for the recruitment of a new CEO will be undertaken.

The hon. First Member for Savanne & Black River! CASE NOYALE COMMUNITY HEALTH CENTRE – MEDICAL SERVICES & RENOVATION