Bank of Maldives (BML) has appointed Karl Stumke as its new Chief Executive Officer (CEO).
BML stated Karl has over 36 years of experience leading retail and corporate banks at the executive and board level in the Middle East, Africa, the Indian Ocean, and the United Kingdom (UK). He was previously CEO of Al Ahli Bank of Kuwait in the United Arab Emirates (UAE).
BML stated Karl joined Al Ahli Bank of Kuwait as the General Manager of its International Banking division in 2010 where he oversaw a wide corporate portfolio before being appointed as CEO of their UAE operations in 2017. Prior to joining Al Ahli Bank of Kuwait, Karl held the position of Regional Corporate Director at Bank Muscat International Bank in Bahrain and was responsible for its Corporate, Commercial, small and medium-sized enterprises (SME), and Islamic banking propositions. Karl was also the Regional Managing Director, Indian Oceans at Barclays Bank Mauritius.
In a statement, Karl Stumke said he is delighted to take on the leadership of BML and with the continued support from the board, executive management, and staff, to drive the next phase of its strategic direction. He said BML will put its customers at the centre and strive to exceed their expectations through the provision of innovative and value-added products and solutions. He added that BML is a fantastic success story and he looks forward to being part of that family and its role in supporting the Maldives and its citizens.
Karl has held Executive Directorships at Barclays Bank Tanzania as well as non-executive directorships in various institutions including Money on Demand, Barclays Leasing, and Barclays Bank Seychelles. He is an Associate of the Chartered Institute of Bankers (South Africa), holds a Bachelor’s Degree in Accounting Science from the University of South Africa, and has completed executive programmes in France, Switzerland, and South Africa.