Deputy CEO of Bank of Maldives (BML), Aishath Noordeen, has resigned from the bank's board.

Her resignation comes after Privatisation and Corporatisation Board (PCB) served her a termination notice.

As per the operating rules, the directors of the bank are appointed to the bank on behalf of its shareholders. As the main shareholder, the government gets to appoint seven directors, while three out of the remaining four directors are elected from among the general shareholders.

According to the rules, the names of directors submitted by the government are cleared by a vote that includes the government's share. The names of directors elected from among the general shareholders are approved only by a vote among the general shareholders. The names of all directors have to be cleared at the Annual General Meeting.

In January too, the PCB had dismissed five directors of the bank. However, they were later reinstated to the board.