Bank of Maldives (BML) has expanded its footprint in the Maldives with the introduction of a new USD ATM service in AA. Thoddoo and the launch of construction for a full-service branch on the island.
The inauguration and groundbreaking ceremonies, held on Tuesday, were attended by President Dr. Mohamed Muizzu, Cabinet Ministers, BML Chairperson Ahmed Ali Habeeb, Chief Executive Officer and Managing Director Mohamed Shareef, members of the Board of Directors, and senior officials.
Speaking at the event, CEO and MD Mohamed Shareef highlighted the significance of Thoddoo’s growing economy, driven by both local tourism and the island’s distinctive agritourism sector.
“We are delighted to expand our services in Thoddoo to support the island’s thriving tourism and agriculture industries. With the new USD ATM, businesses and residents no longer need to travel to another island to access foreign currency. The upcoming branch, expected to open next year, will deliver our full suite of banking services even closer to the community” said Shareef.
The new USD ATM makes Thoddoo the latest addition to BML’s international currency network, which already operates in Malé City, Kulhudhuffushi City, Addu City, Velana International Airport, and K. Maafushi.
As the Maldives’ largest financial institution, BML continues to invest in expanding nationwide access to banking services. The bank currently operates 41 branches across all 20 atolls, alongside 144 Self Service Banking Centres, 201 ATMs, extensive Agent Banking services, and advanced digital banking solutions.
The expansion reflects BML’s strategy of supporting economic activity in key local hubs, particularly islands with strong tourism potential. Thoddoo, renowned both for its guesthouse tourism and large-scale agricultural production, stands out as a vital contributor to the Maldives’ community-based economy.
