Changes at the Top: BML Welcomes New Board Members

The Bank of Maldives (BML) has welcomed three new members to its Board of Directors following an Extraordinary General Meeting (EGM) held today. Ahmed Ali Habeeb has been appointed as the Chairperson, while Mohamed Shahid and Ali Irfan also join the board.

The EGM was conducted via the Maldives Security Depositary's online platform, 'Fahi Vote.' This expansion comes after the Maldives Monetary Authority (MMA) amended its Corporate Governance Policy for banks, allowing for new board appointments.

With these additions, BML's board now comprises nine members—six appointed by the government and three representing general shareholders. Originally designed for 11 members, the board currently has two vacant seats, indicating potential for further growth in governance.

The new leadership aims to guide BML as it continues to serve the financial needs of the Maldives while adhering to updated governance standards.