President Mohamed Muizzu has revealed that discussions are underway to explore the establishment of a presence for Bank of Maldives in Sri Lanka, highlighting a potential expansion of Maldivian financial services beyond national borders.
Speaking during his ongoing state visit, Muizzu said economic cooperation was a central focus of his talks with Sri Lankan President Anura Kumara Dissanayake. Among the initiatives being considered is the opening of a BML branch in Sri Lanka, alongside efforts to introduce premium Maldivian fish products to the Sri Lankan market.
The announcement comes as part of a broader diplomatic engagement between the two countries. President Muizzu was accorded a ceremonial state welcome in Colombo on Monday, with the official reception held at the Presidential Secretariat under the patronage of President Dissanayake. The visit marks Muizzu’s first official trip to Sri Lanka since assuming office in 2023.
Officials have indicated that multiple agreements are expected to be finalized during the visit, aimed at strengthening cooperation across key sectors. Bilateral discussions are focused on expanding trade, investment, and broader economic ties, while also addressing trade imbalances to ensure a more balanced partnership.
Muizzu noted that both countries are working toward creating a more enabling environment for businesses and investors. He pointed to upcoming engagements such as the Maldives-Sri Lanka Business Forum as an important platform to connect stakeholders from both sides.
The visit, which is scheduled to continue until May 6, also includes discussions on cooperation in areas such as education, health, tourism, and security, reflecting efforts to deepen longstanding ties between the Maldives and Sri Lanka.
Authorities in Colombo have implemented special arrangements, including traffic measures, to facilitate official movements during the high-level visit.
