The Bank of Maldives (BML) has significantly expanded its commitment to nationwide financial inclusion, with the groundbreaking on a new branch in Alifushi, Raa Atoll and the widespread inauguration of ATM services across all inhabited islands in the atoll.
This strategic rollout aims to bring modern banking facilities closer to communities throughout the archipelago.
The foundation stone for the BML Alifushi branch was officially laid by Minister for Cities, Local Government and Public Works, Adam Shareef Umar, at a ceremony attended by BML CEO Mohamed Sharif, bank officials, local council members, and Members of Parliament.
Speaking at the event, Minister Adam Shareef hailed the new branch as a catalyst for progress in Alifushi, noting BML's renewed dedication to working closely with the people.
BML CEO Mohammed Sharif underscored the vital importance of establishing both physical branches and ATM services in rural areas, especially as the nation embraces digitalisation.
He emphasized that BML's services remain indispensable in remote communities, facilitating access to essential financial transactions.
In a series of concurrent inauguration ceremonies, Minister Adam Shareef and BML CEO Shareef also unveiled new ATM services in Vaadoo, Rasgetheemu, Angolhitheemu, Hulhudhuffaaru, Maakurathu, Fainu, Kinolhas, Rasmaadhoo and Innamaadhoo.
At each event, Minister Adam Shareef symbolically made a cash withdrawal and handed over an ATM card to the respective island council, signifying local empowerment and improved access.
The self-service ATMs, will offer 24-hour cash withdrawal and deposit facilities, markedly enhancing convenience for residents.
This extensive rollout is a testament to the collaborative efforts between the BML and the government to ensure that modern financial infrastructure reaches every inhabited island in the country, bridging geographical divides and fostering greater economic participation.
This strategic expansion reinforces the BML’s position as the Maldives' leading financial institution, with an extensive network comprising 42 branches across all 20 atolls, 180 Self Service Banking Centres, 238 ATMs, and advanced Digital Banking solutions.