Bank of Maldives (BML) has announced changes to its administrative structure and the roles of its executive team members.
As part of these changes, four members of the senior management team have been reassigned to oversee different functional areas related to their current positions for a period of six months.
Under this restructuring, Aishath Zamra Zahir has been appointed as Chief Commercial Officer, Moosa Nimal as Chief Marketing Officer, Rashfa Jaufar as Chief Risk Officer, and Gary Laughton as Chief Credit Officer.
Commenting on the changes, BML CEO and Managing Director Mohamed Shareef stated that the temporary rotation of senior leadership roles is an investment in strengthening the bank's leadership. He noted that providing experienced executives with exposure to related functional areas would not only enhance their professional skills but also drive institutional progress.
"These changes are aimed at driving the bank's growth. The bank currently maintains a strong financial position, and our objective is to further refine our customer services and accelerate our growth trajectory," Shareef said.
BML stated that these adjustments are a key step in aligning the bank's operations with its long-term strategic goals, which focus on sustainable growth, strengthening customer relationships, and elevating service standards.
The bank assured that these internal administrative changes will not affect its products, services, or existing customer transaction procedures.
Bank of Maldives is the largest financial institution in the Maldives, leading the market in terms of both assets and deposit base, serving approximately 365,000 customers.
The bank has recently faced public scrutiny regarding its services. Key concerns raised by the public include limitations on online payments, challenges in processing Telegraphic Transfers (TTs), and difficulties faced by businesses in accessing foreign currency through the bank.
