The Development Bank was established last year under President Dr Mohamed Muizzu to invest in economic and social development and raise funds for infrastructure projects.
Noel Gregor Paterson-Jones has resigned as the managing director and CEO of Maldives' first Development Bank (DBM).
Privatization and Corporatization Board (PCB) made the announcement in a post on social media platform X yesterday.
The Development Bank was established last year under President Dr Mohamed Muizzu to invest in economic and social development and raise funds for infrastructure projects.
The bank is solely state owned and is the first development bank in the country.
The reason for Paterson-Jones' resignation remains unclear.
Managing Director and CEO of Maldives Development Bank Noel Gregor Paterson-Jones -- Photo: President's Office
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