President Ibrahim Mohamed Solih has highlighted the important role played by State Bank of India (SBI) in Maldives.
Addressing the ceremony held at Kurumba Maldives to mark 45th anniversary of SBI, President Solih with gratitude expressed the Indian bank continues to play an important part in supporting and managing finances for individuals and businesses.
During the function, the president congratulated the management, staff and shareholders of SBI on their 45th anniversary of operating in the Maldives. He highlighted SBI opened their first branch when banking services were non-existent in Maldives, noting at the time when tourism was launched, SBI was the only bank operating in Maldives. Highlighting SBI is the pioneer of banking services in the country and the president said SBI is not just an Indian bank to Maldivians, but also a Maldivian bank in more than one way.
At the function, the president appreciated significant contribution of SBI to the overall development of the Maldivian banking and finance sector as well as the country in general. Furthermore, the president emphasised the role of SBI in helping scores of Maldivian businesses on their path to success is an undeniable fact. He thanked SBI for its contributions with empowering local communities to have greater say in how they are governed and to take on development challenges at the community level.
Concluding the speech, the president noted the presence of the bank is symbolic of the warm relations the Maldives continues to enjoy with India.
During the function, SBI awarded a special commemorative plaque to the president.
Furthermore, Vice President Faisal Naseem also presented Long Service Awards to its recipients at the 45th Anniversary.