In a strategic move marking its entry into regional markets, HNB Investment Bank (HNBIB) has officially ventured into the Maldivian financial sector through a partnership with Dhivehi Investment Partners Pvt Ltd (DIP). The agreement, formalised at a signing ceremony held at the prestigious new city hotel, South Ari, Barcelo Nasandhura, Male’, on Thursday the 16th, is set to contribute significantly to capital market development in the Maldives.
The signing ceremony was attended by business leaders and key representatives from both organizations. Representing HNB Investment Bank was Mr. Damith Pallewatte, Managing Director / CEO of HNB PLC and Chairman of HNB Investment Bank, alongside Mr. Ray Abeywardena, Group CEO/ Managing Director of HNB Investment Bank. From Dhivehi Investment Partners (DIP), Mr. Abdul Wahid Thowfeeq, Chairman of the company, was joined by senior representatives, reflecting the value placed on the partnership from both a corporate and national perspective.
This strategic alliance will see HNB Investment Bank offering a suite of investment banking services to the Maldivian market. These include technical and financial advisory for public and private capital raising across equity, debt, and quasi-equity instruments. HNBIB will also facilitate dual listings on the Colombo Stock Exchange for companies already listed in the Maldives, enabling them to tap into a broader base of regional investors. Additional services offered include company restructuring, shareholder alignment, corporate governance advisory, employee share ownership plan structuring, financial feasibility assessments, business valuations and full-spectrum transaction support for mergers and acquisitions.
Mr. Damith Pallewatte, Chairman of HNB Investment Bank, remarked that they are delighted to partner with Dhivehi Investment Partners as they step into the Maldivian capital markets. He noted that this marks the beginning of what they believe will be a dynamic and enduring relationship, one that will grow bigger and better as both organisations work together to build strong financial ecosystems, unlock value for businesses and deepen regional investment collaboration.
Mr. Ray Abeywardena, Group CEO and Managing Director of HNB Investment Bank, commented that this partnership marks a pivotal step in HNBIB’s regional growth journey. He added that the Maldives is a market with immense potential and that HNBIB is proud to join hands with Dhivehi Investment Partners to offer high-impact, solutions-driven investment banking services that align with the country’s development goals.
As the partnership takes root, Dhivehi Investment Partners will serve as a key strategic enabler on the ground in the Maldives. The firm will be responsible for identifying and referring prospective clients for both capital market and advisory services, supporting regulatory compliance, and facilitating the placement of securities in transactions jointly managed with HNBIB. DIP will also assist in operational and logistical arrangements to ensure the seamless execution of advisory projects.
Mr. Abdul Wahid Thowfeeq, Chairman of Dhivehi Investment Partners, stated that partnering with a leading institution like HNB Investment Bank is a timely and exciting opportunity for the Maldivian financial sector. He emphasised that HNBIB’s regional expertise and commitment to building sustainable capital markets will open up new possibilities for businesses and investors in the Maldives.
This milestone marks a significant chapter in HNB Investment Bank’s growth trajectory, reinforcing its position as a trusted partner in cross-border capital market development and investment banking sector innovation across South Asia.
