BML to expand ATM services to all inhabited islands by 2025’s end

The Bank of Maldives (BML) has launched an ambitious initiative to install ATMs in all inhabited islands of the Maldives by the end of next year.

The national bank’s “Mulhi Raajje ah BML ATM” project was inaugurated by President Dr. Mohamed Muizzu in a ceremony held at the President’s Office on Thursday afternoon.

The ceremony saw BML’s CEO and Managing Director Mohamed Shareef and Economic Minister Mohamed Saeed sign a Memorandum of Understanding (MoU) to implement the nationwide project.

Speaking during the ceremony, Shareef highlighted on significant impact this project will have on enhancing financial inclusion.

“Bank of Maldives has always prioritized financial inclusion for our communities. We pioneered modern banking solutions in the country with the first ATMs, internet banking, mobile banking, and digital wallets, and we are pleased to reaffirm our commitment to serving the Maldivian community through the expansion of our ATM footprint,” he said.

Shareef said the BML plans to open ATMs in over 100 islands next year.

“By the end of 2025, every Maldivian will have access to essential banking services on their island,” he said.

Established in 1982, the BML introduced the first ATMs in the Maldives in 2000.

Earlier on Thursday, the BML opened two new ATMs in ADh. Atoll; in Hangnaameedhoo and Omadhoo.

The ATMs were opened as part of the new project.

“The opening of our ATM in Omadhoo also marks a significant milestone for the bank, as it becomes the 150th ATM in our network,” he said.

Shareef said that as BML expands its physical network, it is also committed to enhancing its digital banking services.

“The bank will continue to innovate to cater the growing needs of its customers, leveraging partnerships with global card networks and payment solution providers to provide seamless and secure banking experiences,” he said.

Currently, the BML has a nationwide network of 39 branches across all 20 atolls, 95 self-service banking centers, 150 ATMs, cash agent service and a full suite of digital banking services.