News President Muizzu / financial institution Maldives Impact 6.0/10 2 min read

President Muizzu Establishes Development Bank of Maldives Limited

President Mohamed Muizzu established the Development Bank of Maldives Limited (DBM) as a 100% state-owned enterprise under the Companies Act (Act No. 7/2023). The bank aims to fund infrastructure projects, invest in sustainable development, and address financing difficulties for PSIP projects. Economic Minister Mohamed Saeed announced that the bank is expected to launch in July, calling it a historical milestone and the cornerstone of development banking in Maldives.

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May 17, 2024

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President Mohamed Muizzu established the Development Bank of Maldives Limited (DBM) as a 100% state-owned enterprise under the Companies Act (Act No. 7/2023). The bank aims to fund infrastructure projects, invest in sustainable development, and address financing difficulties for PSIP projects. Economic Minister Mohamed Saeed announced that the bank is expected to launch in July, calling it a historical milestone and the cornerstone of development banking in Maldives.

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