Bank of Maldives has expanded its Agent Banking with additional 12 Agents providing cash deposit and payment services. With today’s announcement, 62 agents across the country will provide cash deposit and payment services with no additional charges.
The services were introduced in HA. Maarandhoo, HDh. Kumundhoo, HDh. Nellaidhoo, HDh. Finey, Sh. Narudhoo, Sh. Feydhoo, Sh. Maroshi, N. Lhohi, N. Maalhendhoo, R. Innamaadhoo, B. Fulhadhoo and M. Kolhufushi. Through these agents established in these islands, the bank’s customers can make cash deposits of up to MVR 10,000 per day as well as make payments for loans and credit cards. In addition customers can withdraw MVR2,000 per day without any charges.
BML Agent Banking was introduced in 2014 as part of the Bank’s financial inclusion strategy to enable customers to easily access basic banking services at islands without a physical bank presence. Today, there are over 200 agents providing cash withdrawal services and over 60 agents providing cash deposits as well as payment services for free.
With the lockdown announced in different islands due to the COVID-19 pandemic, the bank has been playing an active role to provide continuous banking services to its customers.