Bank of Maldives (BML) Chief Executive Officer, Karl Stumke, has resigned from his post.
The bank confirmed Stumke’s resignation on Monday in a statement, and added he tendered resignation on Sunday. Though resigned, Karl will remain as the bank’s CEO until its Extraordinary General Meeting (EGM) scheduled for September 21, 2024.
Deputy CEO Aishath Noordeen will assume the top executive position’s role following Stumke’s exit.
“The Board of Directors will commence recruitment process to search for a replacement,” BML said.
Though Noordeen earlier resigned from the bank’s board on August 25, 2024, she is still the bank’s Deputy CEO. Noordeen’s resignation from the board had come the same day the national bank had faced public backlash and government scrutiny for suspending foreign transactions on credit and debit cards with MVR primary accounts.
The bank also lowered the monthly limit on existing standard and gold credit cards to USD 100.