Timely and accurate reporting helps preserve trust: BML CEO

Bank of Maldives (BML) CEO and Managing Director Mohamed Shareef has stressed the importance of responsible and accurate reporting in maintaining public confidence in the financial system, stating that misinformation can create uncertainty with far-reaching consequences.

Speaking at the opening of the Asian Media Summit held in the Maldives, Shareef said the financial and media sectors are now more interconnected than ever in the digital age, where information spreads rapidly across platforms.

“Timely and accurate reporting helps preserve trust, support stability and protect public confidence,” he said, warning that unverified narratives could affect not only institutions, but also international relationships such as correspondent banking partnerships, investors and development agencies.

Highlighting BML’s digital transformation journey, Shareef said banking services in the Maldives have evolved significantly over the years, with more than 99.7 percent of transactions now taking place outside physical branches. He noted that customers generate over one million logins daily through the bank’s internet and mobile banking platforms.

Shareef said the country’s geography had pushed the bank to innovate and expand financial inclusion across its dispersed islands.

“What began as a logistical necessity evolved into a national mission of financial inclusion,” he said.

He also highlighted the role of automation, data-driven decision-making and artificial intelligence in improving banking services, speeding up loan approvals, strengthening fraud monitoring, and increasing accessibility for customers and businesses across the country.

The BML CEO noted that the bank plays a systemically important role in the Maldivian economy by supporting sectors including tourism, housing, healthcare, fisheries, renewable energy and digital enterprise.

Shareef further reiterated BML’s continued support for the broadcasting and media industry through financing, sponsorships and partnerships, adding that strong institutions, informed citizens and trusted media contribute to a more resilient society.