Aruni Goonetilleke, the Chairperson of the Development Bank of Maldives Limited (DBM), has resigned from her position.

The Maldives Privatization and Corporatization Board (PCB) confirmed her resignation, which took place last week, though the official reason behind her sudden departure has not been disclosed.

Goonetilleke is a highly accomplished international financial services expert specializing in business origination, governance, credit assessment, and emerging markets risk management. She also holds a Master of Laws (LL.M.) from Harvard University.

The establishment of the country's first-ever development bank fulfills a key presidential pledge of President Dr. Mohamed Muizzu, with the institution officially securing its operational banking license on October 13, 2024.

DBM was founded to drive sustainable economic and social growth in alignment with state policies. Its core mandates include securing infrastructure funding, resolving challenges in financing Public Service Investment Program (PSIP) projects via syndication finance, and boosting the attractiveness of retaining foreign currency within the Maldivian banking system.

The government has previously highlighted that the bank's operations will introduce vital long-term financing options, marking a pivotal step forward in expanding and strengthening the nation's financial sector.