Nurain Janah’s Maldives Premier Bank receives banking license

Maldives Monetary Authority (MMA) has granted banking license and operational approval to Maldives Premier Bank (MPB) – a new commercial bank in the Maldives.

The bank is headed by Ayesha Nurain Janah, the chairperson of Maldives Airports Company Limited (MACL) and daughter of Mohamed Ali Janah, the principal advisor to President Dr, Mohamed Muizzu on trade and investment.

The license was formally handed over by MMA governor Ahmed Munawar to Nurain during a ceremony held at the MMA headquarters in Male’ City on Monday.

The addition of MPB increases the total number of banks operating in the Maldives to nine.

The MMA described the development as “an important milestone in ongoing efforts to further strengthen and deepen the Maldivian financial sector, enhance competition within the banking industry, and support broader access to financial services in the country.”

The MPB describes itself as a relationship-led commercial bank focused on bringing a more modern, client-focused approach to banking in the country.

The MPB’s Board is composed of:

• Ayesha Nurain Janah, non-executive chairperson
• Raheema Saleem, non-executive director
• Mariyam Shahidha Mohamed, non-executive director
• Ismail Ali Manik, non-executive director
• Mohamed Hussain Maniku, non-executive director
• Sujatha Haleem, non-executive director
• Arah Sadava, chief executive officer and managing director

MPB states that it is committed to building a trusted financial institution that delivers high-quality banking services and long-term value to customers and the Maldivian economy.