CEO Shareef appointed as BML’s Managing Director

Mohamed Shareef, the Chief Executive Officer of the Bank of Maldives (BML) has been appointed as the bank’s Managing Director.

According to BML, Shareef was appointed by the government to the Board of Directors at the Extraordinary General Meeting (EGM) held on Wednesday.

He was subsequently appointed as Managing Director during a Board meeting held following the EGM.

Shareef was appointed as BML’s CEO on October 17, becoming the first Maldivian CEO of the institution, a significant milestone for the bank and the Maldivian financial sector.

Shareef has over 25 years of extensive experience in the financial sector, including over seven years at executive and board level.

During his previous tenure at BML, Shareef played an instrumental role in modernizing the bank's operations and driving significant growth. He led a key role in the implementation of core banking systems, the introduction of debit and credit card services, and the expansion of digital banking solutions, including internet banking, mobile banking, self-service banking, and e-commerce payment gateways. The initiatives significantly enhanced the bank's financial performance and improved its service delivery and digital transformation.

Shareef was pivotal in the bank’s strategic development throughout his tenure, having overseen key departments including Islamic Banking, Technology, Marketing, Retail Banking, and Operations.

Shareef holds an MBA from the University of Manchester and has completed the Senior Executive Program at London Business School, a prestigious program for CEOs and senior executives worldwide. He further enhanced his leadership credentials by serving as the elected Vice Chairman of the Asian Bankers Association from 2018 to 2020.

Shareef's career continued in the private sector following his departure from BML in 2020, where he held several executive and consulting positions.

Shareef replaced Karl Stumke, who resigned from his position as CEO and Managing Director of BML on September 8. Deputy CEO Aishath Noordeen had served as Acting CEO up until Shareef’s appointment.