Bank of Maldives (BML) CEO and Managing Director Mohamed Shareef has warned that attempts to create a negative perception of the national bank could have serious consequences for both the institution and the wider Maldivian economy, urging the public to refrain from spreading false information.
Speaking yesterday at the BML Youth Entrepreneurs Expo 2026 held at Barceló Nasandhura and attended by President Dr. Mohamed Muizzu, Shareef said BML is deeply connected to the country’s economy, making public confidence in the bank vital to national financial stability.
Misinformation can have lasting consequences
Shareef said while news media and social media platforms play an important role in informing the public, they can also be misused to spread misleading or false information for political or personal motives.
He noted that in today’s fast-moving digital environment, false information often reaches millions of people before the truth can be established, causing reputational damage and financial losses even when later proven incorrect.
“Bank of Maldives is deeply connected to the Maldivian economy. Statements intended to create a negative perception of the bank could cause extensive damage to both the bank and the economy,” he said.
Calls for responsible sharing of information
The BML CEO urged the public to verify information before sharing it, stressing that the bank remains committed to providing transparent and factual information to customers and shareholders.
He said every decision made by the bank and every piece of information released is verified by banking professionals and guided by strict corporate governance, global risk management principles and regulatory oversight.
According to Shareef, BML operates under the supervision of the Maldives Monetary Authority (MMA), the Capital Market Development Authority (CMDA), external auditors and other regulatory bodies, ensuring compliance with both national and international banking standards.
Rejects criticism of BML
Shareef also addressed what he described as recent narratives questioning the bank’s financial strength, US dollar availability and management.
He said BML continues to operate on strong financial foundations and remains committed to supporting individuals, businesses and national development through responsible banking services.
The remarks came as BML launched its MVR 1 billion Youth Entrepreneurship Financing Scheme during the expo, alongside several new digital banking initiatives aimed at expanding financial opportunities for young Maldivians.
