The Maldives Monetary Authority issued a business commencement permit to the Development Bank of Maldives, the final regulatory step before the bank can begin full-scale operations. The bank, established with 100 percent government ownership, was officially inaugurated in November 2024.
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becoming the first development-focused financial institution in the country to be formed with 100 percent government ownership
Word for word from the report in The Standard. Open the report
the bank had previously obtained its banking licence from the MMA on October 13, 2024
Word for word from the report in The Standard. Open the report
The Maldives Monetary Authority (MMA) has issued the business commencement permit to the Development Bank of Maldives (DBM), formally clearing the institution to begin operations.
Word for word from the report in The Standard. Open the report
The Development Bank of Maldives was established by President Dr. Mohamed Muizzu in May last year under the name “Development Bank of Maldives Limited,”
Word for word from the report in The Standard. Open the report
To strengthen its leadership and operational structure, DBM also began recruiting for senior positions in December, offering competitive salary packages to attract experienced professionals.
Word for word from the report in The Standard. Open the report
