Bank of Maldives has announced Hassan Zareer, Hulhu Male’, Flat No C1-3-B, as Chairperson of its Board of Directors. This appointment was confirmed at the Bank’s Board meeting held after last night’s Extraordinary General Meeting (EGM).

Ali Faris Mohamed, G. Sina Male 3, 35-04, was appointed Board Director at the EGM. With the appointment of the two new Directors, the Bank’s Board of Directors are;

  1. Karl Stumke (Chief Executive Officer and Managing Director)
  2. Aishath Noordeen, M. Thaangeedhoshuge
  3. Hassan Zareer, Hulhu Male’. Flat No C1-3-B
  4. Juwairiya Saeed, Ma. Kosheege
  5. Abdulla Hassan, Naseemaa Manzil, R. Alifushi
  6. Aishath Sajny, Tharividhaage, S. Hithadhoo
  7. Ali Faris Mohamed, G. Sina Male 3, 35-04
  8. Ibrahim Mohamed, Nelum, N. Holhudhoo
  9. Ahmed Mohamed, G. Ufaa
  10. Abdulla Naseem, Karankaa Villa, H.A Filladhoo

The new appointments appear to bring much-needed stability to BML. Earlier this year, reports emerged that the government had dismissed several non-executive board members due to a different opinion.

Media speculated that this was due to the bank's reluctance to support the government's decision to increase the card limit for Maldivians abroad amid the tight dollar market.

The matter appeared to be resolved as the dismissed board members were reinstated.