Development Bank cleared to operate

1 day ago

The Development Bank of Maldives Limited (DBM), a key pledge of President Dr. Mohamed Muizzu, has received regulatory clearance to commence operations, one year after its establishment. The Maldives Monetary Authority (MMA) granted DBM permission to begin business effective Wednesday. The central bank had earlier issued DBM its banking license on October 13, 2024. DBM is a 100 percent government-owned institution, envisioned