The Privatisation and Corporatisation Board (PCB) has appointed four individuals to the Board of Directors of the Development Bank of Maldives Limited.
The appointments were made by PCB on 29 June, under the Law of Privatisation, Corporatisation, Monitoring and Evaluation of Government Businesses. The newly appointed board members are Hassan Miras, Ahmed Azyan Hameed, Maeesha Ibrahim, and Azmeen Rasheed.
President Dr Mohamed Muizzu established the Development Bank of Maldives, on 16 May 2024. The bank was established in line with government policies to promote sustainable economic and social development. It aims to secure funding for infrastructure projects, address financing challenges in Public Sector Investment Programme (PSIP) projects through syndicated finance, and retain foreign exchange within the country’s banking system.