Bank of Maldives has announced the appointment of current CEO Karl Stumke as the new Managing Director.
Karl joined the Bank as CEO on 23rd October 2022 and was appointed by the government to the Board of Directors yesterday.
BML states that the decision was made during the Board meeting held following the Extraordinary General Meeting.
Prior to joining BML, Stumke served as the CEO of Al-Ahli Bank of Kuwait in the United Arab Emirates (UAE). He has more that 36 years of executive and board-level experience in retail and corporate banks in the Middle East, Africa, countries of the Indian Ocean as well as the United Kingdom, Mr. Stumke
Since joining Al-Ahli Bank of Kuwait back in 2010, Stumke oversaw a wide range of corporate portfolios as the General Manager of International Banking. In 2017, he took over as the CEO of the bank’s operations in UAE.
Prior to joining Al-Ahli Bank of Kuwait, Stumke served as the Regional Corporate Director at the Bank Muscat International in Bahrain.
As the Regional Corporate Director at the Bank Muscat International in Bahrain, he oversaw the corporate, commercial, SME and Islamic banking services at the bank.
Additionally, Stumke also served as the Regional Managing Director of Indian Oceans at the Barclays Bank Mauritius.
