Karl Stumke, Managing Director and CEO of the Bank of Maldives (BML), has resigned from his position, effective yesterday. The bank announced the departure in a statement today.
Deputy CEO Aishath Nooruddin will assume the responsibilities of the CEO until a successor is appointed. Stumke will continue in his role until the bank's extraordinary general meeting, scheduled for September.
The resignation follows calls from some government officials for Stumke's departure, which were linked to the bank’s recent decision on withdrawing dollars from MVR cards.
Stumke, who joined BML on December 22, 2022, previously served as CEO of Al Ahli Bank of Kuwait in the United Arab Emirates. The bank’s board of directors has commenced the search for a new CEO.
Deputy CEO Aishath Nooruddin will assume the responsibilities of the CEO until a successor is appointed. Stumke will continue in his role until the bank's extraordinary general meeting, scheduled for September.
The resignation follows calls from some government officials for Stumke's departure, which were linked to the bank’s recent decision on withdrawing dollars from MVR cards.
Stumke, who joined BML on December 22, 2022, previously served as CEO of Al Ahli Bank of Kuwait in the United Arab Emirates. The bank’s board of directors has commenced the search for a new CEO.
