The Maldives' first development bank will become a hub for investment in various sectors, President Dr. Mohamed Muizzu has said.
The establishment of a development bank in the Maldives was a key presidential pledge of President Dr. Muizzu.
In a video posted by the President's Office ahead of a meeting between the President and the Chairman and CEO of the newly formed Development Bank of Maldives Limited, the President described the bank's opening as a historic milestone. He said the bank would soon become a hub for those who wish to invest in various sectors.
The President said the opening of the Development Bank is one of the most important promises in the government's manifesto, a significant step towards expanding and revitalizing the economy. He noted that the bank's leadership comprises seasoned professionals with global experience.
Economic Minister Mohamed Saeed informed reporters yesterday that the Development Bank is expected to receive its license within the week.
