Bank of Maldives (BML) has revealed that it plans to reduce the interest rate of student loans.
At the gala dinner held to celebrate the 40th anniversary of BML, Chairperson Yooshau Saeed highlighted positive changes to the BML Kiyavaa Loan, with the reduction of its interest rate from 9% to 5% from February 1. He said that the change will extend to existing loans as well.
Furthermore, Chairperson Saeed reflected on 40 years of BML and its impact on the development of the country. He said BML has been prolific in expanding its services and investments across the country and is also the top job provider in the financial sector. He also said the bank will continue to expand and develop in order to provide the best services to Maldivians.
Highlighting the services BML introduced in the past 40 years, Chairperson Saeed said that many of the banking services Maldivians have come to rely on were first introduced by BML. He said the services include ATMs, internet banking, POS machines, and services that do not require physical cash. He added that BML aims to extend its services to individuals and businesses in all parts of the country.