BML ready to support growth of Addu residents and businesses, says CEO

The Managing Director and Chief Executive Officer of Bank of Maldives (BML), Mohamed Shareef, said the bank is prepared to support residents and businesses in Addu City.

Shareef made the remarks at an event held in Addu to launch the bank’s digital wallet service, Swipe.

He said the bank’s role is to assist Maldivians in planning and building their future and added that BML will continue to provide financial services required by people and businesses in Addu.

Shareef outlined several financial products currently available to residents of the city.

According to him, residents can obtain up to MVR 3 million for house construction without additional collateral. The bank has also introduced a housing loan product for Addu residents working in the resort sector.

For businesses, working capital loans of up to MVR 3 million are available without collateral to support operations.

Shareef also said fishermen in Addu can now apply for loan facilities available to salaried employees of the bank.

He added that financing is available for guesthouses and tourism-related businesses, with loan approvals based on projected revenue.

Shareef said the bank will provide financial services, digital tools and banking services required by the community.

“The bank is committed to supporting the development of Addu. Cooperation is required to achieve this. Your bank will remain ready to serve you,” he said.

With the launch of the Swipe service in Addu, the digital wallet can now be used at more than 300 businesses across the city.