Bank of Maldives (BML) on Tuesday announced some changes to its Board of Directors when it published the nominees to be put before shareholders at its forthcoming annual general meeting slated for later this month.
BML in a statement said current chairperson, Fareeha Shareef would not be seeking another term on the Board while Mohamed Umar and Murthala Mohamed Didi would also be stepping down.
Seven nominees have been proposed by the government and five applicants will contest the three publicly elected positions at the AGM scheduled for August 23.
BML said Fareeha was stepping down to concentrate on her business interests.
“It has been a great honour to have served as Chairperson for these last two years. I firmly believe the Bank’s professionalism, standards and performance are at a level that compares favorably with best international benchmarks and to have played a part in the progress made has been very rewarding. I look forward to presenting to shareholders a record dividend on the back of last year’s best ever financial performance and I am confident the Bank’s positive momentum will continue," the outgoing chairperson said.
"I would like to thank my colleagues on the Board for all their support and to wish Andrew and his team the very best for the promising times ahead."
BML CEO and Managing Director, Andrew Healy hailed the contributions of the outgoing board members to the bank.
“Fareeha, Umar and Murthala have added a lot of value to our Board and our Bank over recent years. We thank them sincerely and wish them well for the future," Healy said.
"Our focus will continue to be on meeting the expectations of our customers, our shareholders and the communities we serve."
