Bank of Maldives announced new board directors and appointed Ahmed Ali Habeeb as chairperson following an Extraordinary General Meeting. The appointments come amid leadership turmoil, including the resignation of CEO Karl Stumke, the removal of Deputy CEO Aishath Noordeen after 42 years, and the resignation of board member Aishath Sajny.
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The Bank of Maldives (BML) on Saturday announced the appointment of new directors and a chairperson to its Board of Directors following an Extraordinary General Meeting (EGM).
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His resignation was announced on 8 September, though he remained in his position until the bank's special annual general meeting held on Saturday, 21 September.
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Prior to Sajny's resignation, BML's Deputy CEO Aishath Noordeen was removed from the board after 42 years of service.
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Earlier this week, government-nominated board member Aishath Sajny resigned from her post, though the reasons for her resignation remain unclear, and no official statement has been made by BML.
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The decision to remove Noordeen, communicated by the Privatisation and Corporatisation Board (PCB), raised legal concerns as the bank's charter stipulates that board members can only be removed through a general shareholders' meeting.
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BML's Managing Director and CEO, Karl Stumke, resigned earlier this month amid accusations that the bank's recent decisions were linked to an attempted coup against the government.
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Habeeb's nomination follows the removal of former chairperson Yooshau Saeed by President Dr Mohamed Muizzu in January.
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