President Dr. Mohamed Muizzu has highlighted the Development Bank of Maldives (DBM) as a pivotal center for investment in the country. In a video message posted on social media, President Muizzu emphasized the bank's role in driving economic revival and development across various sectors.

President Muizzu described the establishment of DBM as a historic milestone, aligning with his government's manifesto to rejuvenate the Maldivian economy. He emphasized the importance of appointing experienced and globally adept individuals to leadership positions within the bank, including the CEO and chairman.

The creation of DBM was a key promise in President Muizzu’s presidential campaign. In January, the government set up the Maldives International Financial Service Authority (MIFZA) to develop regulations for the new bank. The DBM was officially established in May through a presidential resolution.

The development bank aims to provide long-term financing and support for economic and development projects, playing a crucial role in the country’s growth strategy. The establishment of DBM is seen as a strategic move to attract and facilitate investments, further bolstering the Maldives’ economic prospects.