Two BML directors re-appointed, days after dismissal

BML holds its 2022 annual general meeting on May 29, 2023. (Photo/BML)

Two of the members of the Bank of Maldives (BML)’s board of directors who were recently dismissed have been re-hired to the same positions.

This week, the Privatization and Corporatization Board (PCB) dismissed all of the national bank’s non-executive directors.

PCB has reportedly begun re-appointing members to the board. Two of the directors who were dismissed earlier this week have been re-appointed to the board.

BML’s standing orders dictates that appointments and dismissals of members of the board of directors must be carried out either during an annual general meeting or an extraordinary general meeting.

No such meeting has been scheduled, as of yet.

The directors who were dismissed this week includes the bank’s chairperson, Yooshau Saeed.

In a press statement confirming the dismissal of its non-executive directors on Thursday, BML said the changes will not cause any disruption to the bank’s services.