Technology may expedite news dissemination, but maintaining accuracy is essential, says BML CEO

Maintaining accuracy and reliability in news reporting is essential for the stability of the country’s financial sector and the wider economy, states Bank of Maldives (BML)’s CEO and Managing Director Mohamed Shareef, noting the fast-pace of information dissemination in today’s digital environment.

He made the remarks on Tuesday morning, at the inauguration of the 21st Asia Media Summit underway at Villa Nautica.

Addressing the inauguration ceremony, Shareef said that the financial sector and the media sector are deeply connected.

“In today’s digital environment, information travels faster than ever before. Accurate reporting, responsible communication, and fact-based public disclosure are critical, particularly when discussing the financial institutions and the wider economy,” he said.

Shareef said that confidence in the financial system can be either strengthened or undermined by the accuracy of the information disseminated to the public.

He said that it matters not only for customers and businesses, but also for the international relationships that underpin the country’s economy, including corresponding banking relationships, international investors, development institutions, and global financial networks.

“For that reason, the role of the media carries enormous responsibility. Timely and accurate reporting helps preserve trust, supports stability, and protects public confidence,” he said.

“Equally, misinformation or unverified narratives can create unnecessary uncertainty, with consequences that extend far beyond a single institution.”

Shareef said that the commitment to integrity, professionalism and verification is even more important as media institutions evolve from traditional broadcasting to fastmoving digital ecosystems.

“Technology may change the speed of communication, but it should never compromise the accuracy of communication,” he said.

Shareef said that the BML values the media as an important national partner, and have consistently supported the development of broadcasting and media in the Maldives throughout the years, through financial sponsorships, advertising partnerships, and support for major national events that bring communities together.

“We do so because strong institutions, informed citizens, and trusted medias all contribute to a stronger and more resilient society,” he said.

Shareef said that while Maldives may be a small nation, its experience demonstrates what is possible when institutions embrace innovation with purpose.

“Digital transformation is not simply about technology. It is about inclusion, accessibility, trust and creating opportunities for people regardless of where they are,” he said.

“As all of us gathered here navigate rapid technological change, including artificial intelligence and digital platforms… I believe we share a common responsibility to ensure that innovation continues to serve people, strengthen institutions, and uphold public trust.”  

Organized by Public Service Media (PSM) and the Asia-Pacific Institute for Broadcasting Development, the 21st Asia Media Summit is the first media summit to be held in the Maldives.

BML is the main sponsor of this landmark summit.