Economic Minister Mohamed Saeed has stated that the work of the newly established Development Bank of Maldives (DBM) is progressing rapidly.

The Minister made this statement while answering a question posed by MDP member Mikail Ahmed Naseem, MP for Galolhu South constituency, during today's parliamentary session.

Minister Saeed said that although the bank's practical operations have not yet begun, the preparatory work is moving forward quickly. He emphasized that this bank is not like a regular bank where people open accounts for day-to-day services, but rather an important system established to secure funding for the country's development. He added that the bank's operations will begin very soon.

Saeed mentioned that when President Dr. Mohamed Muizzu's administration began, the country was facing a large debt, which caused many difficulties. However, he noted that significant improvements have been made in the country's rating since then.

The Minister's comments highlight the government's focus on establishing the Development Bank as a key instrument for financing national development projects and improving the country's economic situation.