MMA Issues Licence for Maldives Premier Bank, Bringing Total Banks to Nine
MMA Governor Ahmed Munavvar handing the operating license to Premier Bank of the Maldives (PBM) Non-Executive Chairperson Ayesha Nurain Janah.
The Maldives Monetary Authority (MMA) has officially granted a banking licence to Maldives Premier Bank Pvt. Ltd., increasing the number of banks operating in the Maldives to nine.
The licence was formally handed over by MMA Governor Ahmed Munawar during a ceremony attended by senior MMA officials, members of the bank’s board, shareholder representatives, and senior management.
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According to Maldives Premier Bank, the institution aims to provide a modern, customer-focused banking experience built around relationship banking, governance standards, international best practices, and technology-driven services.
MMA has granted banking licence and operational approval to Maldives Premier Bank Private Limited on 18 May 2026.
The licence was formally handed over at a ceremony held at MMA, attended by the Governor, Deputy Governor, members of the MMA Executive Committee, and the… pic.twitter.com/swrlpNN0XP— MMA (@MMA_Maldives) May 18, 2026
The bank said its board of directors collectively brings experience across central banking, commercial and development banking, securities regulation, public finance, and international development institutions.
The board of directors includes:
- Ayesha Nurain Janah: Non-Executive Chairperson
- includes Raheema Saleem: Non-Executive Director
- Mariyam Shahidha Mohamed: Non-Executive Director
- Ismail Ali Manik: Non-Executive Director
- Mohamed Hussain Maniku: Non-Executive Director
- Sujatha Haleem: Non-Executive Director
- Arah Sadava: Chief Executive Officer and Managing Director
The bank’s senior management team includes Vikum Welegedera as Head of Operations, Shaikh Abdul Majeed as Head of IT, Mariyam Leela as Head of HR, Klaus Muller as Head of Finance, and Khadheeja Rashaa as Legal Counsel and Company Secretary.
According to the bank, the management team has professional experience across 14 countries in Asia, Africa, Europe, the Pacific, and the Maldives, with expertise in banking, technology, operations, governance, and digital transformation.
Maldives Premier Bank said it intends to build a trusted financial institution that delivers long-term value to customers and supports the Maldivian economy.
The bank is located at H. Sunleet, First Floor, Boduthakurufaanu Magu, Malé.
