Bank of Maldives (BML) Chief Executive Officer Mohamed Shareef has said there is no position within the national bank that cannot be filled by a Maldivian.

Speaking at a ceremony held yesterday at Barceló Nasandhura to launch new BML services, Shareef reflected on the bank’s history and its founding purpose.

He made the remarks while discussing the project to install ATMs on every inhabited island under the initiative "Dhivehinge Bank – Mulhi Raajje Ah" (“People’s Bank – to the Entire Nation”).

Shareef recalled that Haveeru newspaper had first reported the signing of an agreement between the Maldivian government and a foreign company to establish BML on 14 March 1982, noting that the bank’s mission was not only to provide financial services but also to identify and support areas of national development.

BML was initially managed by Bangladesh’s International Finance and Investment Company under a management contract until Maldivian employees gained sufficient experience to take over operations. The bank officially opened on 11 November 1982, inaugurated by then president Maumoon Abdul Gayoom, symbolizing the country’s material progress at the time.

“Where there is no financial institution, economic growth comes to a halt and the paths to productivity are blocked,” Shareef said.

“Because of this bank, the Maldivian economy and businesses have seen great development.”

He added that BML’s founding purpose was to support individuals and enterprises through financial assistance and to act as a key partner in the country’s economic growth.

“At that time, we approached foreigners to gain experience. Today, 43 years later, Maldivians in every field have attained education, experience, and professional satisfaction,” he said.

“There is no position in the Bank of Maldives that a Maldivian cannot fulfil today.”

BML currently employs 1,155 staff, of whom only two are foreigners.

Shareef emphasized that BML, which has government stakes, remains closely tied to every sector of the nation’s economy and will continue to act in the interest of the Maldivian people.