MMA states that the company believes that the commencement of operations by the Development Bank of Maldives Limited will play a significant role in enhancing access to long-term financing and supporting sustainable economic development in the Maldives.
MMA
The Maldives Monetary Authority (MMA) has approved the commencement of banking operations by the Development Bank of Maldives Limited, effective from 29 January 2026.
Development Bank of Maldives Limited was granted a banking licence by MMA on 13 October 2024 to operate as a development bank in the Maldives. Development Bank of Maldives Limited is 100 percent owned by the Government of Maldives. MMA states that the company believes that the commencement of operations by the Development Bank of Maldives Limited will play a significant role in enhancing access to long-term financing and supporting sustainable economic development in the Maldives. The Authority considers this approval a key milestone in efforts to broaden and strengthen the Maldivian financial sector.
