President Ibrahim Mohamed Solih stated that the State Bank of India (SBI) played a crucial role in development of the Maldives.
This statement was made at the 45th anniversary function of SBI, held at Bandos Island Resort.
He emphasised that when SBI established its first branch banking services were nonexistent in the country. SBI was the only bank in operation when tourism was first introduced to the Maldives.
President Solih also emphasised that SBI’s role managing finances and aiding businesses and individuals of the Maldives. He thanked SBI for empowering the local communities to have greater say in how they are governed and insisted on tackling development challenges at a community level.
The President also expressed appreciation for SBI’s contribution to the advancement of the Maldivian banking and finance sector. He further noted that SBI’s presence in the Maldives is an indicator of a healthy diplomatic relationship between Maldives and India.
SBI awarded a special commemorative plaque to President Solih during the ceremony.