The Chief Executive Officer and Managing Director of the Development Bank of Maldives Limited (DBML), Noel Gregor Paterson-Jones, has stepped down from his position.
The Privatisation and Corporatisation Board (PCB) confirmed the resignation, stating that it had formally received and accepted Paterson-Jones’ decision to leave the role.
A British national, Paterson-Jones was appointed to head the Maldives’ first-ever development bank on August 26, 2024. His tenure spanned just under a year, during which the bank officially commenced operations following its inauguration on November 16.
The Development Bank of Maldives was established as a key financial institution aimed at supporting the country’s economic diversification efforts. Its primary focus is to offer low-interest loans for strategic infrastructure projects and large-scale private sector investments, aligning with the government’s broader vision to promote sustainable development.
No further details have been provided regarding the reason for Paterson-Jones’ resignation or the appointment of his successor.
