Bank of Maldives (BML) has launched self-service banking facilities in R. Vaadhoo, kicking off a major expansion drive to bring ATM services to every inhabited island in Raa Atoll. The move is part of the bank’s “Mulhi Raajje ah BML ATM” initiative, which aims to strengthen financial inclusion across the country.
The inauguration ceremony in Vaadhoo was attended by Minister of Cities, Local Government and Public Works Adam Shareef Umar, BML Chairperson Ahmed Ali Habeeb, CEO and Managing Director Mohamed Shareef, along with senior bank officials.
Speaking at the event, CEO Mohamed Shareef emphasized the importance of the initiative:
“We are proud to establish our ATM services in R. Vaadhoo, marking the beginning of our work to establish an ATM network across the atoll. Today we will start our ATM services in eight additional islands, reflecting our commitment to provide accessible banking services in every corner of the country.”
Strengthening Nationwide Access
The expansion underscores BML’s strategy to extend financial access and modern banking facilities to underserved communities. With the rollout across Raa Atoll, residents will gain easier access to cash withdrawals, deposits, and account services without having to travel long distances.
This initiative also builds on BML’s existing nationwide presence, which already includes 42 branches across all 20 atolls, 180 self-service banking centres, 238 ATMs, and advanced digital banking solutions.
Driving Financial Inclusion
As the largest financial institution in the Maldives, BML has consistently invested in infrastructure that bridges the urban-rural gap. The “Mulhi Raajje ah BML ATM” project is expected to significantly reduce dependency on physical bank branches, while enhancing convenience for individuals, small businesses, and local councils.
By expanding access to ATMs and self-service banking, the bank is reinforcing its role in supporting communities nationwide, ensuring modern financial services reach even the most remote islands.
