President Mohamed Muizzu has established the Development Bank of Maldives Limited as a 100 percent state-owned enterprise under Article 15 of the Companies Act (Act No. 7/2023). Economic Minister Mohamed Saeed said the administration aims to launch the bank in July.
One outlet so far Only Maldives Republic has reported this among the sources we monitor. A gap in what we monitor, not proof that others did not report it.
Decree by HEP @MMuizzu [Mohamed Muizzu] on Dev[elopment] Bank of Maldives Ltd is a historical milestone for the realisation of HE’s [His Excellency’s] vision as this marks the cornerstone of Dev banking in the 🇲🇻[Maldives]. DBM will become…
Nothing to compare yet. If another monitored source reports it, its headline appears beside this one.
According to the President’s Office, the President established the entity, as a 100 percent state-owned enterprise (SOE), under the powers conferred to him by Article 15 of the Companies Act (Act No. 7/2023).
Word for word from the report in Maldives Republic. Open the report
