Ex-Deputy CEO Mohamed Shareef appointed BML’s first Maldivian CEO

Bank of Maldives (BML) has announced the appointment of former Deputy CEO Mohamed Shareef as the bank’s new CEO; marking the first time a Maldivian has been appointed to the post.

As per the Bank, Shareef will assume the post starting Thursday. The bank noted that the appointment of a Maldivian CEO marked a significant milestone for the Bank and the Maldivian financial sector.

Shareef has over 25 years of experience in the financial sector including over 7 years at executive and board level. 

BML said Shareef played an instrumental role in modernizing the Bank's operations and driving significant growth during his tenure at BML. In this trajectory, the Bank underscored his 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 which significantly enhanced the Bank's financial performance and improved its service delivery and digital transformation.

The bank also said Shareef played a crucial role 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 has served as the elected Vice Chairman of the Asian Bankers Association from 2018 to 2020.

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

BML opened applications for the post of CEO on September 23nd following the resignation of Karl Stumke, who previously held the post, on September 9^th. Deputy CEO Aishath Noordeen was appointed acting-CEO until the appointment of a new individual for the post.

BML saw the appointment of new Directors and the Chairperson to its Board of Directors in September.

In this regard, Ahmed Ali Habeeb, Noovilaage, S. Hithadhoo, Ali Irufan, Daylight Villa, S. Maradhoo Feydhoo and Mohamed Shahid, Hulhumale’ Flat No: 90-2-02 were appointed as Board Directors at the Bank’s Extraordinary General Meeting (EGM) held on September 21^st and Ahmed Ali Habeeb was appointed as the Chairperson during a meeting of the Bank’s Board held after the EGM.