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Bank of Maldives

Board of Directors

Yooshau Saeed

Mr. Yooshau Saeed


Mr. Yooshau Saeed is the Chairperson of the Bank.

Mr. Yooshau is also the General Manager at SIMDI Pvt Ltd. Prior to being appointed as General Manager at SIMDI Pvt Ltd, Mr. Yooshau has served as National Project Manager to the NCSA Project of Energy and Water, and as the Corporate Affairs and Finance Manager at Maldives National Shipping Ltd. Further, from 1994 to 2004 Mr. Yooshau has served in various positions at the Audit Office of the Maldives.

Mr. Yooshau was also a Board Member of SME Development Finance Corporate (SDFC) from February 2019 until 14th July 2021. He also served as a Licensed Stock Broker of Capital Market Development Authority. Mr. Yooshau has served as Chairperson Thilafushi Corporation Ltd.

Mr. Yooshau holds a Bachelor of Commerce (Accounting) from the Murdoch University, Australia.

Mr. Yooshau has no shares in the Bank.

Karl Stumke

Mr. Karl Stumke

Chief Executive Officer and Managing Director

Mr. Karl Stumke is the Chief Executive Officer and Managing Director of the Bank.

Mr. Karl has over 36 years of experience leading Retail and Corporate banks at Executive and Board level in the Middle East, Africa, Indian Oceans and the United Kingdom. He was previously CEO of Al Ahli Bank of Kuwait in United Arab Emirates.

Mr. Karl joined Al Ahli Bank of Kuwait as the General Manager of its International Banking division in 2010 where he oversaw a wide corporate portfolio before being appointed as CEO of their UAE operations in 2017. Prior to joining Al Ahli Bank of Kuwait, Karl held the position of Regional Corporate Director at Bank Muscat International Bank in Bahrain and was responsible for its Corporate, Commercial, SME and Islamic banking propositions. Mr. Karl was also the Regional Managing Director, Indian Oceans at Barclays Bank Mauritius.

Mr. Karl has held Executive Directorships at Barclays Bank Tanzania as well as non-Executive Directorships in various institutions including Money on Demand, Barclays Leasing and Barclays Bank Seychelles.

Mr. Karl is an Associate of the Chartered Institute of Bankers (South Africa), holds a Bachelor’s Degree in Accounting Science from the University of South Africa and has completed executive programs in France, Switzerland and South Africa.

Ms. Aishath Noordeen

Deputy CEO

Ms. Aishath Noordeen joined the Bank in 1982. She is currently the Deputy CEO of the Bank.

Ms. Aishath has a career spanning over 30 years in the banking industry and has worked in numerous areas of the Bank. She has served as Acting CEO and Managing Director on four separate occasions and was a government-appointed director on the Bank’s Board of Directors from 2008 until 2014. Ms. Aishath was In-charge of the Bank in 2019 until Mr. Timothy Sawyer was appointed as the CEO in July 2019. She was also In-charge of the Bank from 14th July 2022 until current CEO Mr. Karl Stumke was appointed on 16th October 2022.

Ms. Aishath was instrumental in establishing the Bank’s award-winning international banking business.

Ms. Aishath has no shares in the Bank.

Juwairiya Saeed

Ms. Juwairiya Saeed


Ms. Juwairiya Saeed is the current Chairperson of Cancer Society of Maldives since 2012. She is also a member of the President’s Action Committee since January 2019.

Ms. Juwairiya has served as a director at a number of government shareholding companies, including Island Aviation Pvt Ltd, Maldives Islamic Bank and Maldives Ports Authority. She has also served as an Independent Director of Centurion Plc, Chairperson of Dhiraagu Plc, Privatization Committee Member at the President’s Office and Director of Public Enterprise Monitoring and Evaluation at the Ministry of Finance.

Since 2007, Ms. Juwairiya has provided financial consultancy and worked as a financial advisor in numerous government projects and private sector in Maldives. Some of these projects include the Maldives Environmental Management Project, Maldives Global Climate Change Project and the Rapid Assessment of Water and Sanitation Status in Maldives Project by World Bank.

Ms. Juwairiya holds a Master of Arts with Distinction in Business with Financial Management from Northumbria University, UK, and a Bachelor of Commerce from the University of Western Australia.

Ms. Juwairiya has 100 shares in the Bank.

Mr. Abdulla Hassan


Mr. Abdulla Hassan is the Debt Expert of Debt Management Project, Ministry of Finance. He has served in various posts in Allied Insurance Company Pvt Ltd and Ministry of Finance. Mr. Abdulla has previously served as the General Manager of Fasriyaa Pvt Ltd and Chairman of Lafarge Maldives Pvt Ltd, a subsidiary of STO Plc.

Mr. Abdulla is the current Chairperson of the Board Appointment, Nomination & Remuneration Committee.

 Mr. Abdulla holds a Bachelor of Science (Statistics, Mathematics and Computer Science) from Bangalore University, India.

Mr. Abdulla has no shares in the Bank.

Abdulla Husam Shareef

Mr. Abdulla Husam Shareef


Mr. Abdulla Husam Shareef is a Partner and Senior Tax Advisor of CTL Strategies LLP since 2015. Mr. Husam is a member of the team that represents clients at the courts and tribunals of the Maldives on tax related matters.

Mr. Husam has served as the Under Secretary to the Policy Office of the President’s Office from December 2018 to November 2019, and as a Principal Officer of Maldives Inland Revenue Authority from 2011 to 2013.

Mr. Husam holds a Master of Governance and Public Policy from University of Queensland, Australia, and a Bachelor of Honors in Economics from the International Islamic University, Malaysia.

Mr. Husam has no shares in the Bank.

Aishath Sajny

Ms. Aishath Sajny


Ms. Aishath Sajny is the Policy and Research Consultant for the Ministry of Economic Development, appointed in September 2020. Prior to this, she served as an Economist at the International Monetary Fund from February 2019 to March 2020.

Ms. Sajny has over 10 years of professional experience in Macroeconomics and Finance. She was the Economist and Head of Research Division of Maldives Monetary Authority from 2017 to 2019. She has held various positions in MMA including Senior Research Analyst of Economic Research Section, Debt Manager of Public Debt Unit and Head of Market Operations.

Ms. Sajny is the current Chairperson of the Board Corporate Governance Committee.

Ms. Sajny holds a Masters in Applied Economics from Eastern Michigan University, USA and a Bachelor of Science in Economics and Finance from London School of Economics, Singapore.

Ms. Sajny has no shares in the Bank.

Ibrahim Mohamed

Mr. Ibrahim Mohamed


Mr. Ibrahim Mohamed is the Executive Director of NPH Investment Pvt Ltd and NPH Developments Pvt Ltd. Mr. Ibrahim has served on the Bank’s Board both as a Government appointed director as well as a director elected by the public shareholders.

Mr. Ibrahim currently serves on the Boards of several private companies in the finance trading, fisheries, hospitality and travel sector, including Tropical Island Holidays Pvt Ltd and Maldives Travel and Trading Co. Pvt Ltd.

A finance and tourism sector professional, Mr. Ibrahim has been part of the Board of Directors of several government shareholding companies, including State Electric Company Ltd, Island Aviation Services Ltd, Villingili Investment, Maldives Post Ltd, Maldives Ports Ltd, Mifco Boat Yard Ltd, Maldives Airports Company Ltd. Mr. Ibrahim has also served as Chairman of the Hulhumale Development Corporation Ltd, Maldives Inflight Catering Pvt Ltd and Male’ Health Services Corporation Ltd.

Mr. Ibrahim holds a Higher National Diploma in Business and Finance (Tourism) from South Glamorgan Institute of Higher Education (Cardiff Metropolitan University), United Kingdom and a Master’s Degree in Tourism from University of Strathclyde, United Kingdom.

Mr. Ibrahim has 20 shares in the Bank.

Abdulla Naseem

Mr. Abdulla Naseem


Mr. Naseem is the Managing Director of Health and Glow Pvt Ltd. Mr. Naseem previously served as the Assistant Manager, Accounts and Finance of Rainbow Enterprises Private Limited.

Mr. Naseem also served as a Government appointed Director in the Bank’s Board from 8th November 2012 to 18th November 2013.

Mr. Naseem is the current Chairperson of Board Risk Committee.

Mr. Naseem has completed Technician Level of Association of Chartered Certified Accountants (ACCA), UK and is a Certified Accounting Technician (CAT).

Mr. Naseem has 100 shares in the Bank.

Ahmed Mohamed

Mr. Ahmed Mohamed


Mr. Ahmed Mohamed is the Chief Executive Officer and Managing Director of Univiya Holdings Pvt Ltd. He previously served as the Ambassador of Maldives to India from 2015 to 2018. Mr. Ahmed was also the Minister of Economic Development from 2012 to 2013. Prior to being elected to this position, he also served as the Chief Executive Officer of State Trading Organization Plc.

Mr. Ahmed served the Bank from 2008 -2012 as a member of the Board. He also served as Chairman of the Board in STO Plc, Maldives Oil Company, Fuel Supply Maldives and Allied Insurance. He also served as a Board Director of Dhivehi Ekuveri Kunfuni Plc, Hulhumale’ Development Corporation, Island Aviation Services Limited and Maldives Ports Authority.

Mr. Ahmed Mohamed is the current Chairperson of the Board Audit Committee.

Mr. Ahmed holds a Master’s Degree in Economics (Public Policy) from the University of Hull, UK.

Mr. Ahmed has 30 shares in the Bank.