Bank of Maldives has launched the Masveriyaa portal, a dedicated digital financing platform for fishermen, marking a major milestone in fulfilling President Dr Mohamed Muizzu’s pledge to strengthen financial inclusion and improve livelihoods in the fisheries sector.
The platform was officially inaugurated last night by Minister of Transport and Civil Aviation Mohamed Ameen at a Fishermen’s Day ceremony held in R. Dhuvaafaru, highlighting the government’s focus on recognising and supporting fishing as a national economic backbone.
Designed specifically for registered fishermen, the Masveriyaa portal provides streamlined access to Sharia compliant personal financing through a fully digital, user friendly system. Eligible fishermen listed in the National Fishermen’s Registry can now apply online without the delays and barriers traditionally associated with banking services.
Through the portal, fishermen can access financing for home purchase, home construction, higher education, vessel building and repair, guesthouse development, and Lui financing for other essential purposes, including the purchase of fishing gear and equipment. The broad scope reflects a policy shift toward supporting both household stability and income generating activities within fishing communities.
Bank of Maldives CEO and Managing Director Mohamed Shareef said the launch represents a pivotal step in the bank’s partnership with the fisheries sector. He noted that BML had earlier partnered with the Ministry of Fisheries and Ocean Resources to improve access to finance for fishermen, and that Masveriyaa now delivers this support through modern digital infrastructure.
The initiative directly aligns with President Muizzu’s pledge to ensure fishermen benefit from faster payments, accessible financing, and banking products tailored to seasonal income realities. Since December 2024, BML has processed fishermen’s payments within 48 hours, addressing long standing cash flow challenges faced by the sector.
In addition, the bank has introduced a dedicated financing facility of up to MVR 300,000 for fishermen, offered without collateral or equity requirements. Repayment schedules are structured around seasonal earnings, allowing fishermen to meet obligations without financial strain during off peak periods.
BML also announced plans to integrate card services into the Masveriyaa portal in the near future, further expanding digital banking access for fishermen across the country.
With the launch of Masveriyaa, Bank of Maldives reinforces its role in delivering on President Muizzu’s fisheries agenda, combining financial inclusion, digital transformation, and targeted policy support to strengthen one of the Maldives’ most vital industries.
The portal is accessible at masveriyaa.bankofmaldives.com.mv.
