The Bank of Maldives (BML) has launched its Guest House Financing programme in Haa Alifu Atoll, reinforcing its commitment to support local tourism and foster entrepreneurship in the region.
The initiative was officially unveiled on Monday during a special ceremony held in Haa Alifu Filladhoo, attended by several key figures including Minister of Tourism and Environment Thoriq Ibrahim, Minister of Economic Development and Trade Mohamed Saeed, along with BML’s senior leadership, including CEO and Managing Director Mohamed Shareef and Chairman and Chief Business Officer.
In his address, BML’s CEO, Mohamed Shareef, emphasized that the new financing scheme represents the bank’s ongoing dedication to fueling economic growth and supporting small businesses. He stressed that the initiative is designed to provide accessible financial solutions for entrepreneurs aiming to develop guest houses, thereby enhancing tourism offerings in the atoll and contributing to its sustainable growth.
The introduction of the Guest House Financing programme in Haa Alifu Atoll follows a significant move by BML earlier this year, where the bank expanded its ATM network, installing seven new ATMs across the atoll. This expansion ensures that every inhabited island in Haa Alifu now has access to convenient banking services.
BML’s broader strategy to expand its presence across the country includes 39 branches across 20 atolls, 107 self-service banking centres, and a total of 165 ATMs, further enhancing financial accessibility for Maldivians nationwide.
The bank’s new financing scheme for guest houses is expected to have a significant impact on local tourism, helping entrepreneurs meet the growing demand for tourism facilities and accommodations, and ultimately boosting the local economy. With this initiative, BML continues to play a pivotal role in shaping the future of the Maldives’ tourism industry while providing much-needed support to local communities.
