The Deputy CEO of Bank of Maldives (BML), Aishath Noordeen has been removed from her board membership.

One Online has learned that Aishath Noordeen was removed from the board of the bank in a letter sent to her by the Privatization and Corporatization Board (PCB) today.

According to BML's bylaws, the directors are appointed on behalf of the company's shareholders. As the largest shareholder, the government can appoint seven directors while three of the remaining four directors are elected from among the common shareholders. Then there is an independent director appointed by the government.

As per the rules, the names of directors proposed by the government are approved by a poll including government shares. The names of the directors elected by the common shareholders are approved only by a poll among the common shareholders. The names of all directors are subject to approval at the Annual General Meeting.

Last January, the PCB also sacked five BML directors. However, they were later re-appointed to the board.