President Dr. Mohamed Muizzu has announced the establishment of the Development Bank of Maldives Limited, a new state-owned entity wholly owned by the Government of Maldives. This establishment was formed under the authority granted by Section 15 of the Companies Act (Act No. 7/2023).
The Development Bank of Maldives Limited aligns with the government's strategic policies to fund infrastructure projects, invest in sustainable economic and social development, and address the challenges associated with financing Public Sector Investment Program (PSIP) projects through syndicated financing. Additionally, the bank seeks to promote foreign exchange retention within the nation's banking system, thereby bolstering economic stability.
The registered address of the Development Bank of Maldives Limited is at the Ministry of Finance, Ameenee Magu, 20379, Male, Maldives.
The Development Bank of Maldives Limited aligns with the government's strategic policies to fund infrastructure projects, invest in sustainable economic and social development, and address the challenges associated with financing Public Sector Investment Program (PSIP) projects through syndicated financing. Additionally, the bank seeks to promote foreign exchange retention within the nation's banking system, thereby bolstering economic stability.
The registered address of the Development Bank of Maldives Limited is at the Ministry of Finance, Ameenee Magu, 20379, Male, Maldives.
