The Bank of Maldives (BML) has played a pivotal role in invigorating the economy of Maldives, says President Ibrahim Mohamed Solih.

The president made this remark while speaking at the gala dinner held to celebrate the country’s national bank’s 40th anniversary, on Thursday evening.

Taking the podium at the event, President Solih noted that over the course of the past 40 years, the bank has contributed immensely towards national development, alongside boosting the archipelago nation’s economy particularly in fisheries, tourism, and infrastructure development.

Shedding light on BML’s role in facilitating the administration’s financial services, the president applauded the bank’s contributions to national development through its corporate social responsibility (CSR) initiative and added that BML has facilitated the administration's grant and loan programmes.

President Solih went on to shed light on the bank’s founding and the country's banking system, acknowledging the support extended from the government of Bangladesh in the founding of BML.

With this, he expressed gratitude to the government of Bangladesh and its International Finance and Investment Company for their support towards this end.

Thursday’s event was also joined by First Lady Fazna Ahmed, Vice President Faisal Naseem and other state dignitaries.

BML was incepted on 11 November 1982.