Maldives' development bank will boost growth, Saeed says
Saeed urged foreign partners, local businesses, and stakeholders to collaborate in making the bank a success.
Development Bank of Maldives (DBM) will be a cornerstone for future economic and social progress in Maldives, economic minister Mohamed Saeed said Saturday.
The bank was officially inaugurated by President Mohamed Muizzu in a ceremony held at the Islamic Centre Saturday evening.
Saeed, speaking at the event, emphasised the bank’s potential to drive development in the Maldives.
“This bank will be the foundation of the Maldives' economic and social development in the future,” Saeed said.
He stated that DBM aligns with President Muizzu's broader vision to strengthen the country’s economy. The bank is expected to play a significant role in financing infrastructure projects, supporting local businesses, and ensuring sustainable economic growth.
Saeed urged foreign partners, local businesses, and stakeholders to collaborate in making the bank a success.
The establishment of the Development Bank of Maldives was a key pledge by President Muizzu. In January, the cabinet approved the creation of the bank, and the Maldives Monetary Authority granted its license in October.
DBM’s headquarters is located in the former Umar Arcadia building in Male.
