Maldives Development Bank | Atoll Times

Maldives Development Bank

DBM granted clearance to commence banking business

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

29 January 2026

Development bank to begin operations soon, Saeed says

Although several target dates had previously been announced for the bank’s commencement, operations have yet to begin.

14 October 2025

4 new board directors appointed to Development Bank of Maldives

The Development Bank of Maldives was established with the aim of supporting long-term development financing in the country.

Ex-CEO paid salary until resignation, DBM says

DBM also noted that the process of appointing a new CEO and Managing Director is ongoing in coordination with the PCB.

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Finance ministry now oversees development bank, Saeed says

He added that the government remains committed to the bank’s development and its role in supporting the Maldivian economy.

President meets chair, CEO of Maldives' new development bank

The Development Bank of the Maldives was established on May 16 in alignment with the president's pledge.

MMA grants licence to Maldives' first development bank

The Development Bank of Maldives was established on May 16 in alignment with the president's pledge.

13 October 2024

Maldives development bank's chief resigns

The bank’s headquarters was officially opened in November, but operations have not yet commenced.

Development bank on schedule with institutional setup, Saeed says

While the bank is operational in terms of infrastructure, its activities have not yet commenced.

19 January 2025