- BML launched a Liveaboard Finance facility at 9.5% interest, said to be the Maldives' lowest for vessel financing.
- Operators must provide 30% equity, can use the vessel as collateral, and repay in USD over up to seven years.
- Repayments can be structured around peak and off-peak tourism seasons to match operators' revenue patterns.
Bank of Maldives has introduced a dedicated financing facility for liveaboard operators, offering funding for vessel purchases, construction, upgrades and related equipment.
The Liveaboard Finance facility carries an interest rate of 9.5 per cent per annum, which BML says is the lowest available for vessel financing in the Maldives. The financed vessel can be used as collateral, without a requirement for additional collateral.
Operators must contribute at least 30 per cent of the vessel’s value as equity, while the final financing amount will depend on its price and BML’s credit assessment. Repayment periods can extend to seven years.
The bank said repayments can be structured around peak and off-peak tourism seasons, allowing operators to align instalments with their revenue patterns. Repayments will be accepted in US dollars.
The facility is available for the acquisition of vessels, new construction, mechanisation and renovation work, as well as the purchase of related gear and equipment. It may support established operators seeking to renew or expand their fleets, alongside investors entering the liveaboard segment.
“Liveaboards are one of the most distinctive sectors of Maldivian tourism, and operators deserve a financing partner that understands the seasonal nature of their business. With Liveaboard Finance, we have built a facility around how this industry actually earns and spends, giving operators the confidence to invest in their growth. This reflects our broader commitment to supporting the sectors that define the Maldivian economy,” BML CEO and Managing Director Mohamed Shareef said.
