Saeedha Umar has been appointed as chairperson of the Bank of Maldives (BML).

She was given this position at a meeting of its board of directors.

This board has three directors appointed by BML’s shareholders, and eight directors appointed by the state.

Saeedha has served as a policy consultant at the Economic Ministry and co-chair of working group formed for the China-Maldives free trade agreement.

Fareehaa Shareef, who had served as BML’s chairperson for two consecutive years, had decided not to contest for a third.

BML had made a total of MVR 1.02 billion in 2016, which was its most profitable year yet.