BML Expands Guest House Financing to Haa Alifu Atoll

Bank of Maldives (BML) has expanded its Guest House Financing product to Haa Alifu Atoll, reinforcing its commitment to supporting local businesses and fostering economic growth across the atolls. The official launch was held yesterday in Filladhoo, attended by key government and banking officials.

Speaking at the ceremony, BML CEO and Managing Director Mohamed Shareef emphasized the bank’s dedication to fostering entrepreneurship and strengthening the tourism sector. “The launch of Guest House Financing in Haa Alifu Atoll reflects our ongoing commitment to fostering economic growth and empowering local businesses. By providing accessible financial solutions, we aim to support entrepreneurs in developing the tourism sector, creating new opportunities, and driving sustainable progress in the atolls,” he stated.

The event was attended by the Minister of Tourism and Environment, the Minister of Economic Development, as well as BML’s Chairperson and Chief Business Officer.

In a move to enhance accessibility, BML has recently upgraded its Guest House Financing product, allowing proposed guest houses to be mortgaged or used as sole security for financing. This initiative is expected to provide a significant boost to aspiring guesthouse operators looking to capitalize on the Maldives’ growing tourism industry.

With a nationwide presence that includes 39 branches across all 20 atolls, 107 Self-Service Banking Centres, 165 ATMs, and extensive digital and agent banking services, BML continues to play a pivotal role in driving financial inclusion and supporting community development across the Maldives.