Corporate Governance

Strong Governance, Sound Banking

MPB's governance framework ensures the highest standards of accountability, transparency, and risk oversight. Our Board and its committees uphold the principles that protect customers, shareholders, and the broader financial system.

Board Committees Terms of Reference Whistleblowing Regulations Financial Results

Board Committees

The Board operates through specialised committees, each with clearly defined mandates that support effective oversight of the Bank's operations.

Audit Committee

The Audit Committee shall assist the Board in its oversight of the integrity of the Bank’s financial statements and financial reporting processes, The effectiveness of internal controls and internal audit, The independence, performance, and engagement of the external auditor and Compliance with accounting standards, legal requirements, and regulatory expectations.

Members

Raheema Saleem Chair — Independent Director
Mariyam Shahida Mohamed Member — Independent Director
Mohamed Hussain Maniku Member — Non-Executive Director

Board Risk Oversight Committee (BROC)

The BROC shall assist the Board to Identify, assess, and monitor material risk exposures across the Bank, Oversee the development and implementation of risk management strategies and policies, Review the effectiveness of the Bank’s risk management framework, risk appetite, and capital management processes; and Promote a strong and consistent risk management culture throughout the Bank.

Members

Raheema Saleem Member — Independent Director
Ayesha Nurain Janah Member — Chairperson

Nomination, Compensation and Remuneration Committee (NCRC)

The Nomination, Compensation and Remuneration Committee (NCRC) shall assist the Board in ensuring that the Bank has a transparent and robust process for the nomination and appointment of Directors and senior management, sound and prudent remuneration policies aligned with the Bank’s long-term objectives and risk appetite, effective succession planning for the Board and key management roles and Appropriate oversight of outsourced human resource management and development activities, where applicable.

Members

Mariyam Shahida Mohamed Member — Independent Director
Mohamed Hussain Maniku Member — Non-Executive Director

Corporate Governance Committee (CGC)

The Corporate Governance Committee (CGC) shall assist the Board in promoting and strengthening the Bank’s corporate governance framework, Overseeing compliance with applicable corporate governance requirements, including those issued by the Maldives Monetary Authority (MMA) and Monitoring the effectiveness of governance policies, practices, and ethical standards across the Bank.

Members

Ismail Ali Manik Chair — Non-Executive Director
Mariyam Shahida Mohamed Member — Independent Director
Mohamed Hussain Maniku Member — Non-Executive Director

Related Party Transactions Committee (RPTC)

The Related Party Transactions Committee (RPTC) shall assist the Board in ensuring that all Related Party Transactions are conducted on arm’s-length terms, do not prejudice the interests of the Bank, its depositors, or minority shareholders and comply with applicable laws, regulations, MMA directives, and the Bank’s Related Party, Transactions Policy.

Members

Mariyam Shahida Mohamed Chair — Independent Director
Raheema Saleem Member — Independent Director
Ismail Ali Manik Member — Non-Executive Director

Trust and Investment Committee (TIC)

The TIC oversees trust and fiduciary services, investment governance and mandates, compliance with client mandates and fiduciary duties, risks arising from trust and investment activities and oversight of investment performance, controls, and external managers.

Members

Mohamed Hussain Maniku Chair — Non-Executive Director
Ayesha Nurain Janah Member — Chairperson
Mariyam Shahida Mohamed Member — Independent Director

Detailed member biographies are available on the Leadership page. Committee composition is reviewed annually and any changes are disclosed in the annual report.

Terms of Reference for the Board of Directors

The Board of Directors operates under formal Terms of Reference (ToR) that define its purpose, authority, composition, and duties.

Purpose

The Board provides strategic direction and oversight of the Bank, ensuring the long-term success of MPB while balancing the interests of customers, shareholders, employees, and regulators.

Authority

The Board has overall authority for the management of the Bank's affairs, subject to the powers reserved for shareholders by law and the Bank's constitutive documents.

Composition

The Board comprises Executive and Non-Executive Directors, with a majority of independent Non-Executive Directors. Members are appointed for fixed terms and assessed against fit-and-proper requirements.

Key Duties

Approve and monitor strategy, business plans, and budgets
Set risk appetite and approve the risk management framework
Review and approve financial statements and disclosures
Ensure regulatory compliance and effective internal controls
Appoint, monitor, and evaluate senior management
Maintain the Bank's culture and ethical standards

Meetings

The Board meets at least quarterly, with additional meetings as required. A formal agenda, supporting papers, and minutes are maintained for each meeting.

Review

The Terms of Reference are reviewed at least annually to ensure continued effectiveness and alignment with regulatory expectations and best practice.

Full Terms of Reference

The complete document is available for download.

Download (PDF)

Whistleblowing

Maldives Premier Bank is committed to a culture of integrity, transparency, and accountability. Our confidential whistleblowing channel allows employees, customers, vendors, and other stakeholders to report suspected misconduct, fraud, or breaches of policy or law.

Who Can Report

Any employee, contractor, customer, vendor, or member of the public who has reasonable grounds to suspect misconduct, fraud, corruption, or a breach of law or policy.

What Can Be Reported

Financial fraud or misappropriation
Bribery or corruption
Breach of regulatory requirements
Serious misconduct or unethical behaviour
Health, safety, or data security concerns

Confidentiality

All reports are treated with strict confidentiality. The identity of the reporter will be protected to the fullest extent possible.

Non-Retaliation

MPB does not tolerate retaliation against anyone who reports a concern in good faith. Retaliation is itself a breach of policy and subject to disciplinary action.

Investigation

All reports are reviewed by the Compliance function and, where appropriate, escalated to the Audit Committee or Board. Investigations are conducted impartially and promptly.

How to Report

Reports may be submitted via the dedicated whistleblowing channel. Anonymous submissions are accepted.

Submit a Report

Use our confidential whistleblowing channel to raise a concern.

Go to Whistleblowing Portal

Regulations

Maldives Premier Bank operates in compliance with all applicable laws, regulations, and guidelines issued by the Maldives Monetary Authority (MMA) and other relevant regulatory bodies.

Regulatory Content

Detailed regulatory disclosures and applicable frameworks will be published here. Content coming soon.

View Regulations Page

Financial Results

Maldives Premier Bank is committed to financial transparency and sound stewardship. Our financial statements, annual reports, and key performance disclosures will be published here as they become available.

Annual Reports

Comprehensive year-end financial statements and Board reports will be published following regulatory submission and approval.

Interim Results

Half-year and quarterly financial summaries will be disclosed in line with MMA regulatory requirements.

Key Disclosures

Capital adequacy, liquidity ratios, and other Pillar 3 disclosures will be made available in accordance with applicable standards.

Financial Statements

Full financial results will be available for download as they are published.

View Financial Results