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Two years on, Muizzu’s Development Bank still idle as millions spent without services
Two years after President Dr. Mohamed Muizzu pledged it in his manifesto, the Development Bank of Maldives has yet to begin operations or offer services, Minister of Economic Development and Trade Mohamed Saeed told a press conference. The bank, established on 16 May 2024 and licensed by the Maldives Monetary Authority on 13 October 2024, has spent MVR 11,998,267 and has advertised 13 vacancies including 10 managerial roles.
Sources1carried itRE1 of 19 news outlets we monitor
Figures4as written, with their sentences
One outlet so far Only Raajje (English) has reported this among the sources we monitor. A gap in what we monitor, not proof that others did not report it.
What happened
in order; days are read from the reports' words and dates
Thu 16 MayDevelopment Bank of Maldives Limited was established as a fully government-owned company.16 May 2024only Raajje (English)Development Bank of Maldives Limited was established as a fully government-owned company on 16 May 2024.
Word for word from the report in Raajje (English). Open the report
Sun 13 OctThe Maldives Monetary Authority granted a license to the Development Bank.Sunday, 13 October 2024only Raajje (English)newestThe Maldives Monetary Authority (MMA) granted a license to the Development Bank on Sunday, 13 October 2024.
Word for word from the report in Raajje (English). Open the report
How the reporting differs
one source so far
Raajje (English)News outlet
Two years on, Muizzu’s Development Bank still idle as millions spent without services
MVR 11,998,267 total amount spent by the Development Bank from its establishment until August of this year
Nothing to compare yet. If another monitored source reports it, its headline appears beside this one.
Figures in these reports
as written, with the sentence they come from
MVR 11,998,267total amount spent by the Development Bank from its establishment until August of this yearRaajje (English)Information obtained under the Right to Information Act shows that from the date of the bank’s establishment until August of this year, a total of MVR 11,998,267 has been spent.
Word for word from the report in Raajje (English). Open the report
13 positions, including 10 managerial rolesvacancies advertised by the Development BankRaajje (English)it has announced vacancies for 13 positions, including 10 managerial roles.
Word for word from the report in Raajje (English). Open the report
MVR 35,000 to MVR 45,000manager-level salary range offered by the Development BankRaajje (English)Salaries for manager-level positions range from MVR 35,000 to MVR 45,000, while executive-level positions offer salaries between MVR 20,000 and MVR 30,000.
Word for word from the report in Raajje (English). Open the report
MVR 20,000 and MVR 30,000executive-level salary range offered by the Development BankRaajje (English)Salaries for manager-level positions range from MVR 35,000 to MVR 45,000, while executive-level positions offer salaries between MVR 20,000 and MVR 30,000.
Word for word from the report in Raajje (English). Open the report
Other events named
no clear day, as worded
A government gazette notice advertised 13 Development Bank vacancies with applications due before 5pm, December 29.before 5pm, December 29Raajje (English)According to a notice published in the government gazette, the bank is seeking 10 managers, two front office executives, and one marketing executive. Applications for these positions are required to be submitted before 5pm, December 29.
Word for word from the report in Raajje (English). Open the report
