In an era characterised by the rapid dissemination of information across digital platforms, preserving the accuracy and credibility of the news is imperative for the stability of both the financial system and the broader economy, said Mohamed Shareef, the chief executive officer and managing director of the Bank of Maldives.
Speaking at the opening ceremony of the 21st Asia Media Summit at the Villa Nautica Maldives Resort, Shareef underscored that the financial and media sectors are deeply intertwined. The summit, which runs from 11-14 May under the theme 'Maldives 2.0: From Tradition to Tech', is organised jointly by the Asia-Pacific Institute for Broadcasting Development and Public Service Media, with the Bank of Maldives serving as the main sponsor.
Public confidence in the financial system is heavily dependent upon the quality and factual precision of information delivered to the public, the chief executive noted. Such trust extends far beyond domestic consumers and commercial enterprises, Shareef said, exerting a direct impact on the international relationships that serve as the foundation of the national economy, including correspondent banking networks, global investors, and international development agencies.
The immediate and accurate distribution of news is vital for sustaining institutional trust and maintaining societal stability. "For that reason, the role of the media carries enormous responsibility," Shareef stated. "Timely and accurate reporting helps preserve trust, support stability and protect public confidence. Equally, misinformation or unverified narratives can create unnecessary uncertainty with consequences that extend far beyond a single institution."
While technological advancements have accelerated global communication, upholding factual integrity and professional ethics remains an absolute imperative, Shareef cautioned. He contextualised digital transformation as a fundamental mechanism for societal inclusion, intended to facilitate seamless access to services and ensure equitable opportunities for all individuals, regardless of geographic location.
The media serves as an essential national partner, Shareef said in concluding his address. He highlighted the bank’s ongoing commitment to the sector, noting that the Bank of Maldives has consistently provided financial assistance, sponsorships, and strategic support to foster the development of the nation’s broadcasting and media industries.