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MMA Governor Ahmed Munawwar presents banking licence to DBM. (Photo/MMA)

DBM granted clearance to commence banking business

The Maldives Monetary Authority issued the bank’s licence in October 2024.

29 January 2026

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The Development Bank of Maldives (DBM) has been granted approval to commence banking operations.

DBM was established to attract foreign investment for the implementation of development projects in the Maldives. The Maldives Monetary Authority issued the bank’s licence in October 2024.

In a press release issued on Thursday, the Maldives Monetary Authority said DBM’s operations will facilitate access to long-term financing and support economic growth in the Maldives.

The authority said the approval marks a step in efforts to expand and strengthen the country’s financial sector.

Business Maldives Development Bank

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