Bank of Maldives (BML) on Wednesday announced the appointment of their CEO Mohamed Shareef, as their new Managing Director.

Shareef was appointed to the BML Board as a member appointed by the government on behalf of the bank at its special general meeting held today. He was appointed as the Managing Director at the Board of Directors meeting held after the special general meeting.

Shareef, who was appointed as the MD of BML today, is the CEO of the bank, making him the first Maldivian to ever be appointed as the CEO of the Bank. He was appointed CEO on the 17th of this month.

Shareef brings over 25 years of extensive experience in the financial sector to his new role, including over 7 years at executive and board level. During his tenure at BML, Shareef played an instrumental role in modernizing the Bank's operations and driving significant growth. He led a key role in the implementation of core banking systems, the introduction of debit and credit card services, and the expansion of digital banking solutions, including internet banking, mobile banking, self-service banking, and e-commerce payment gateways.

These initiatives significantly enhanced the Bank's financial performance and improved its service delivery and digital transformation.

The Bank also noted that Shareef was pivotal in the Bank’s strategic development throughout his tenure, having overseen key departments including Islamic Banking, Technology, Marketing, Retail Banking, and Operations.

Shareef holds an MBA from the University of Manchester and has completed the Senior Executive Programme at London Business School, a prestigious program for CEOs and senior executives worldwide. He further enhanced his leadership credentials by serving as the elected Vice Chairman of the Asian Bankers Association from 2018 to 2020.

Shareef's career continued in the private sector following his departure from BML in 2020, where he held several executive and consulting positions.