BML has appointed a new CEO.
Bank of Maldives (BML) has appointed the bank's former Deputy CEO Mohamed Shareef as its new CEO, marking the first time a Maldivian has been appointed to the position.
BML said Shareef will assume his role as CEO of the company tomorrow, and that hiring a Maldivian for the role is a significant milestone for the bank and the Maldives' financial sector.
Congratulations and a very warm welcome to Mohamed Shareef, our new Chief Executive Officer!
— Bank of Maldives (@bankofmaldives) October 16, 2024
With this appointment, Shareef has become the first Maldivian CEO of BML, a significant milestone for the Bank and the Maldivian financial sector. pic.twitter.com/z17aegJvy4
Shareef, who has served the financial sector for 25 years has extensive experience in the field including over 7 years at the executive and board level.
"During his tenure at BML, Mr. Shareef played an instrumental role in modernizing the Bank's operations and driving significant growth. He led a key role in the implementation of core banking systems, the introduction of debit and credit card services, and the expansion of digital banking solutions, including internet banking, mobile banking, self-service banking, and e-commerce payment gateways," the bank said, adding that these initiatives significantly enhanced BML's financial performance and improved its service delivery and digital transformation.
During his tenure at BML, he also oversaw key departments such as Islamic Banking, Technology, Marketing, Retail Banking, and Operations.
Shareef holds an MBA from the University of Manchester and has completed the Senior Executive Programme at London Business School, a prestigious program for CEOs and senior executives worldwide. He also served as the elected Vice Chairman of the Asian Bankers Association from 2018 to 2020.
Shareef's career continued in the private sector following his departure from BML in 2020, where he held several executive and consulting positions.
Shareef's appointment as CEO of BML comes after the bank's former CEO Karl Stumke resigned. The South African, who has 35 years of banking experience under his belt, took up the position in 2022 but left this year after BML announced a complete removal of all foreign transaction allowances from BML's credit and debit cards; a decision reversed on the orders of the government just hours later.
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