No services, but DBM already in the red

1 day ago

The Development Bank of Maldives (DBM) booked a net loss of MVR 2.3 million in its first reporting period, despite not having started core banking operations, according to the 2024 audit report released by the Auditor General’s Office. The audit covers the period from July 21, 2024 to December 31, 2024. The report states that DBM did not commence any core