The Development Bank of Maldives (DBM) will begin operations in July, according to Minister of Economic Development and Trade Mohamed Saeed. The bank was established by the President on 16 May to fund development and infrastructure projects and attract foreign currency deposits.
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.
DBM was established, in line with administration policies, by the President on 16 May with the purpose of investing in sustainable economic and social development, raising funds for infrastructure development, addressing challenges in financing PSIP projects, and attracting foreign currency deposits within the domestic banking system.
Word for word from the report in Maldives Republic. Open the report
We are working with the MMA [Maldives Monetary Authority] to get the development bank license. Hopefully we will get the development bank license this week or next. Once we get it, we are targeting to launch the development bank in July
Nothing to compare yet. If another monitored source reports it, its headline appears beside this one.
