Former Deputy CEO of the Bank of Maldives (BML) Mohamed Shareef has been appointed as the new CEO of the bank.
The post became vacant after the resignation of Karl Stumke who also held the Managing Director position. The new appointment was announced more than a month after Karl resigned.
"With this appointment, Mr. Shareef has become the first Maldivian CEO of the institution, a significant milestone for the Bank and the Maldivian financial sector," the bank said today.
He previously served as BML's Deputy CEO during the administration of former President Abdulla Yameen.
Shareef became the first Maldivian CEO of BML in its 42-year history.
Shareef has over 25 years of extensive experience in the financial sector, including over seven years at executive and board level.
BML said he played an instrumental role in modernizing the bank's operations and driving significant growth.
"Mr. 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," BML stated.
Shareef. -- Photo: Avas
Shareef holds an MBA from the University of Manchester and has completed the Senior Executive Programme at London Business School.
He also served as the elected Vice Chairman of the Asian Bankers Association from 2018 to 2020.
Shareef faced several allegations in the Maldives Marketing and Public Relations Corporation (MMPRC) corruption scandal.
The Parliament made a complaint to the police after accusing him of giving false information to the committee. However, the bank denied the accusation.
Recently, the government made major changes to the board of BML after accusing the bank of colluding with the opposition to stage a financial coup.
Police launched an investigation into the alleged coup, but there has been no progress in the case.
