The Bank of Maldives (BML) has unveiled a major nationwide banking upgrade with the launch of 90 new ATMs, including 70 dedicated US dollar machines, marking one of the largest expansions of its self-service network to date.
The new ATMs were officially inaugurated by President Dr Mohamed Muizzu at a ceremony held at Barceló Nasandhura, attended by BML Chairperson Ahmed Ali Habeeb, CEO and Managing Director Mohamed Shareef, and senior bank officials.
The rollout includes 20 Maldivian Rufiyaa ATMs installed across islands where BML branches already operate, while the 70 US dollar ATMs have been distributed across all major atolls to improve access to foreign currency services nationwide.
US Dollar ATM distribution across atolls:
- Haa Alif Atoll: 5
- Haa Dhaalu Atoll: 5
- Shaviyani Atoll: 4
- Noonu Atoll: 4
- Raa Atoll: 6
- Baa Atoll: 5
- Lhaviyani Atoll: 3
- Kaafu Atoll: 10
- Alif Alif Atoll: 3
- Alif Dhaalu Atoll: 6
- Vaavu Atoll: 3
- Faafu Atoll: 1
- Meemu Atoll: 3
- Dhhaalu Atoll: 1
- Thaa Atoll: 4
- Laamu Atoll: 3
- Gaafu Alif Atoll: 3
- Gaafu Dhaalu Atoll: 3
- Gnaviyani Atoll: 1
- Seenu Atoll: 5
The expansion builds on BML’s “ATM for the Entire Maldives” initiative, which achieved full ATM coverage across all inhabited islands by 2025. With this latest addition, the bank’s total ATM network has grown to 338 machines nationwide.
Speaking at the launch, CEO Mohamed Shareef highlighted the scale of the deployment, noting that the synchronized activation of such a large number of Cash Recycling ATMs, capable of both deposits and withdrawals, represents a record achievement with no comparable precedent documented globally.
The upgraded network is expected to further strengthen banking accessibility and foreign currency availability, particularly in remote islands, while supporting growing demand from both residents and the tourism-driven economy.
BML reported that its ATM network handled MVR 17.1 billion in deposits in 2025 alone, processing approximately 8.4 million transactions, underscoring the critical role of self-service banking infrastructure in the country’s financial ecosystem.
