DBM seeks 10 managers and 3 executives as rent continues but services remain unlaunched

The Development Bank of Maldives (DBM), which has not yet begun operations, has announced recruitment for 13 positions, including 10 managerial posts.  

According to the gazette, DBM is seeking:  

• 10 managers (internal audit, legal, credit and risk, HR and administration, IT, two compliance, and three finance)  

• Two front office executives  

• One marketing executive  

Applications must be submitted by 17:00 hrs on Monday.  

The announcement states that managerial positions carry salaries ranging from MVR 35,000 to MVR 45,000, while executive-level roles offer between MVR 20,000 and MVR 30,000. Executives must hold at least a diploma or advanced certificate with three years’ experience, while managers require a first degree and three to five years’ experience.  

The establishment of DBM was a presidential pledge by President Dr. Mohamed Muizzu. The bank was inaugurated on November 16 last year at STO’s Allied Building, where it pays MVR 75,892 in monthly rent, but services have yet to be launched.  

Economic Minister Mohamed Saeed has said the bank will become operational, though the launch date remains uncertain.  

Earlier, the President appointed two foreign experts to lead DBM:  

• Aruni Goonetilleke, a Sri Lankan financial expert with over 25 years of experience, was appointed chairperson of the Development Bank of Maldives. 

  Noel Gregor Paterson-Jones, a UK national with a track record in environmentally friendly investment, was appointed CEO.

However, Paterson-Jones resigned soon after, filing a case with the Employment Tribunal on April 7 over unpaid salary and benefits for his notice period.