The Maldives’ banking sector marked an important milestone on 18 May 2026 with the official granting of a banking licence to Maldives Premier Bank Pvt. Ltd. (MPB) by the Maldives Monetary Authority (MMA).
The licence was formally handed over by MMA Governor Ahmed Munawar during a ceremony attended by senior officials of the MMA, including members of its Executive Committee, together with the Chairperson, Board Members, shareholder representatives, and senior management of Maldives Premier Bank.
The collective composition of the Board of Directors whose combined systemic experience spans central banking, commercial and development banking, securities regulation, public finance, and international development institutions.
The Board consists of:
· Ayesha Nurain Janah - Non-Executive Chairperson
· Raheema Saleem - Non-Executive Director
· Mariyam Shahida Mohamed - Non-Executive Director
· Ismail Ali Manik - Non-Executive Director
· Mohamed Hussain Maniku - Non-Executive Director
· Sujatha Haleem - Non-Executive Director
· Arah Sadava - Chief Executive Officer / Managing Director
The senior management consists of:
· Vikum Welegedera - Head of Operations
· Shaikh Abdul Majeed - Head of IT
· Mariyam Leela – Head of HR
· Klaus Muller – Head of Finance
· Khadheeja Rashaa - Legal Counsel & Company Secretary
The Bank’s management team brings together extensive experience across banking, technology, operations, risk, and human resources, with expertise spanning 14 countries worldwide across Asia, Africa, Europe, Pacific and the Maldives. Having held senior leadership positions across regulated financial institutions, the team brings strong global expertise in digital transformation, governance, operational excellence, and sustainable growth.
With the introduction of Maldives Premier Bank, the number of banks operating in the Maldives has increased to nine, supporting greater competition, innovation, and financial sector development in the country.
Maldives Premier Bank has been established with a vision to deliver a more modern, customer-focused banking experience, combining relationship banking with strong governance, international best practices, and well-designed technology.
The Bank stated that it remains committed to building a trusted financial institution that delivers high-quality banking services and long-term value to customers and the Maldivian economy.
Maldives Premier Bank is located at H. Sunleet, 1st Floor, Boduthakurufaanu Magu, Male', Maldives.
Maldives Premier Bank
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