BML. Introduces Guest House Financing in Haa Alifu Atoll

Business

Bank of Maldives has introduced its Guest House Financing product to Haa Alifu Atoll at a special ceremony held today in Filladhoo, marking a significant step in supporting the development of local tourism in the atoll.

Speaking at the ceremony, Bank of Maldives CEO and Managing Director Mohamed Shareef emphasized the bank’s commitment to fostering economic growth and empowering local entrepreneurs. “The launch of Guest House Financing in Haa Alifu Atoll reflects our ongoing commitment to fostering economic growth and empowering local businesses. By providing accessible financial solutions, we aim to support entrepreneurs in developing the tourism sector, creating new opportunities, and driving sustainable progress in the atoll,” he stated.

The event was attended by key government officials, including the Minister of Tourism and Environment and the Minister of Economic Development, alongside the Bank’s Chairperson and Chief Business Officer.

Bank of Maldives recently enhanced its Guest House Financing product to improve access to finance for business owners. As part of the changes, the proposed guest house itself can now be mortgaged or used as the sole security for financing, making it easier for aspiring entrepreneurs to secure funding.

With a strong presence across the Maldives, Bank of Maldives continues to demonstrate its dedication to economic development through innovative financial solutions. The bank operates 39 branches across all 20 atolls, 107 Self-Service Banking Centres, and 165 ATMs, in addition to comprehensive Agent Banking Services and advanced Digital Banking solutions. Through these initiatives, Bank of Maldives remains committed to supporting communities nationwide and facilitating sustainable progress in the tourism industry.