MALDIVES: The Maldivian President Dr Mohamed Muizzu officially opened the Development Bank of Maldives, the island nation’s first development bank, which aims to address challenges in funding public sector investment program projects and to finance both government and private-sector projects. The Maldives Monetary Authority granted the bank its operating license in October 2024.
Speaking at the launching ceremony, Minister of Economic Development and Trade Mohamed Saeed highlighted the bank’s potential to facilitate other financial services including investment banking, wholesale banking, asset management, hedge funds, maritime insurance and Islamic finance.
