SME Development Finance Corporation Rebrands as SME Digital to Empower Maldivian SMEs

Business

SME Development Finance Corporation (SDFC) has officially rebranded as SME Digital, following approval from shareholders at the Extraordinary General Meeting held on 30 October 2025. The new name has been officially registered with the Ministry of Economic Development and Trade after receiving clearance from the Maldives Monetary Authority.

SME Digital will operate as a comprehensive digital platform providing essential services for Micro, Small, and Medium-sized Enterprises (MSMEs) across the Maldives. The platform will offer financing solutions and support businesses in managing financial transactions, improving operational efficiency, and enhancing market accessibility.

As a subsidiary of Bank of Maldives (BML), SME Digital has integrated its services with BML’s systems, allowing customers to make payments directly through the BML Mobile Banking App via secure API connectivity.

The company’s Mobile App is scheduled for launch soon, enabling customers to update profiles, access financing details, make payments, and use other digital services. In the next phase, a nationwide digital marketplace will connect entrepreneurs, service providers, and business partners, facilitating greater collaboration and market access.

SME Digital CEO Badhurudheen Hassan said, “This rebranding marks the beginning of our renewed commitment to transforming the ecosystem for SMEs. Today’s businesses need more than financing; they require strong networks, technical expertise, digital tools, and continuous support. At SME Digital, we are dedicated to driving sustainable growth and long-term success.”

SME Digital aims to become the Maldives’ first Shariah-compliant financial institution leveraging digital technology to accelerate the growth of MSMEs. The company’s new brand identity and digital services will be introduced progressively in the coming months.

The rebranding does not affect customers’ existing financing facilities, and all terms and conditions remain unchanged, with updates applied only to reflect the new brand and system integrations.