BML to introduce easy loan schemes

Bank of Maldives (BML) reveals plans to bring changes to the current loan schemes to facilitate more customers.

In a press release issued by BML, the CEO and Managing Director of the Bank, Andew J. Healy said that BML is now open for businesses and independent citizens. And changes would come to the loan schemes.

“We will also commit to making the loan application process simpler and turnaround times shorter than before.” Mr. Healy said. “Details of the changes to existing loan products as well as some new load products will be announced on a phased basis over the coming weeks.”

Sources say that with the change to the loan schemes of BML, the conditions when approving loans would change along with a shorter approval period.

“Although it already has made loans of some MVR 8 billion to Maldivian individuals and businesses, the Bank wants to support the local economy even more by making its loans more accessible.” The statement said.