Development Bank of Maldives (DBM) advertises high-level managerial posts with attractive salaries

The newly established state-owned Development Bank of Maldives (DBM) has today advertised vacancies for high-level positions, offering a large salary package.

In separate announcements, DBM is seeking to recruit for 13 Manager-level and Executive-level positions across various departments of the bank.

The positions being advertised include:

·         Executive Level:

o    1 x Marketing Executive

o    2 x Front Office Executivesv

·         Manager Level:

o    3 x Finance Managers

o    2 x Compliance Managers

o    1 x IT Manager

o    1 x HR and Admin Manager

o    1 x Credit and Risk Manager

o    1 x Legal Manager

o    1 x Internal Audit Manager

The salary for these positions is between MVR 20,000 and MVR 45,000. Salary is based on general information found in the Maldivian job market for similar banking/financial roles, the higher end of this range is likely for the Manager-level posts, while the lower end is for the Executive-level posts.

Interested individuals must submit their applications before 5:00 pm next Monday.

According to Economic Minister Mohamed Saeed, DBM is not a conventional commercial bank for daily transactions and account services. Instead, it is an essential system established to secure funding for national development and long-term financing needs for the country's progress, including infrastructure projects.

The "Development Bank of Maldives Limited," a company wholly owned by the Maldivian government, was formed under a presidential decree by President Dr. Mohamed Muizzu in May last year.

The bank was officially inaugurated in November 2024.

While the bank's services have not yet commenced, the government has stated that the institutional work is progressing rapidly. This work includes formulating the bank's policies, determining funding strategies, providing information to foreign institutions, and establishing a project pipeline.