President Dr. Mohamed Muizzu has said that the Maldives Development Bank will be an important hub for investors in Maldives.

The President met with the Chairman and CEO of the Development Bank. He affirmed that both of them were greatly experienced and had worked across the globe in the field.

In a video message, President Dr. Muizzu said the Investment Bank will be a hub for those who wish to invest in tourism industry such as resort construction, renewable energy, real estate and housing.

"This is a very important starting point as one of the most important promises made to diversify the country's economy is the establishment of a Development Bank of Maldives. Hopefully, this marks the establishment of the bank," he said.

Maldives Development Bank was established on May 16 under the President's authority. The Privatisation and Corporatisation Board has appointed three members to the bank's board.