Bank of Maldives Announces The Appointment Of Karl Stumke As the New Managing Director

On Tuesday, the Bank of Maldives (BML) announced the appointment of Karl Stumke as its new Managing Director. He was appointed as Managing Director by the government during the Extraordinary General Meeting held yesterday. Karl recently joined the bank last year’s October and has been filling in the role of Chief Executive Officer (CEO) of BML. He now joins the Board of Directors effective from 10th January 2023.

Karl brings more than 36 years of experience to the table, filling in numerous Executive and Board roles in Retail and Corporate banks of the Middle East, Africa, the Indian Ocean and the United Kingdom. Before stepping in as CEO of BML, he served as CEO of Al Ahli Bank of Kuwait in the United Arab Emirates (UAE).

He holds a bachelor’s degree in Accounting Science from the University of South Africa and is an Associate of the Chartered Institute of Bankers (South Africa). Adding to his impressive resume are various executive programmes he completed in France, Switzerland and South Africa.