A digest of news and opinion from the Maldives.
Mr Kuldip Paliwal, who contributed over 4 years spearheading key business verticals of the Bank of Maldives as the Director of Business has been appointed as the Managing Director of First Alliance Bank Zambia. Mr Paliwal is a Career Banker with global, diversified, and functional expertise of 22 years. Apart from serving as the Director […]
Bank of Maldives is pleased to announce the appointment of Mr Moosa Nimal as its Director of Retail and SME Banking and Mr Ahmed Aseef as its Director of Corporate Banking. Nimal has been with the Bank since 2003 and throughout the span of his career, he has gained extensive knowledge and experience in multiple […]
The International Islamic Trade Finance Corporation (ITFC), a member of the Islamic Development Bank (IsDB) Group, has approved a US$5 million Murabaha Financing Facility in favour of Bank of Maldives to support the Bank’s private sector businesses, particularly SMEs importing raw materials from the international markets. Bank of Maldives is the first partner institution in […]
As in the rest of the world, the local economy has been hard hit as a result of the coronavirus pandemic. The disruption to tourism activities and the subsequent decline in foreign exchange earnings has meant pressure on dollar liquidity has intensified. While the recent announcement by MMA to provide additional dollars to banks for […]
Bank of Maldives has revealed that the bank has issued loans worth MVR 1.2 billion to various sectors of the economy during the financial downturn in the pandemic. CEO and Managing Director of BML, Tim Sawyer stated that assistance is being provided on the recovery scheme fund for resorts and guesthouses under the recovery plan […]
Bank of Maldives has announced Sana Mansoor, Ma. Manas, as Chairperson of its Board of Directors. This appointment was confirmed at the meeting of the Bank’s Board held yesterday after the 2019 Annual General Meeting. The directors nominated by the Government and appointed to the Board at its AGM are: Sana Mansoor, Ma. Manas Timothy […]
Bank of Maldives CEO and Managing Director Tim Sawyer highlighted 2019’s strong financial performance of the Bank and its swift response to the pandemic during his update to shareholders at today’s virtual Annual General Meeting. Speaking on the impact of COVID-19, Tim reassured shareholders that the Bank will remain alongside Maldivians through these extraordinary and […]
Bank of Maldives has announced a permanent change that BML will no longer allow any credit coming into USD accounts from person-to-person transfers or withdrawals from digital wallets through Visa Direct, Mastercard Send or similar platforms. All incoming credit from such sources will only be allowed into MVR accounts. BML informs that customers using cards […]
Bank of Maldives (BML) has issued MVR 486 Million for large businesses operating in the Maldives, which has been affected by COVID-19, under the Economic Recovery Scheme. Eligible parties for the Economic recovery Scheme include resorts and businesses which generate a yearly turnover of 10 million. According to the information published on the finance ministry’s […]