Government Eases Bank Loan Repayment Conditions Amid COVID-19 Pandemic

The government has decided to extend the loan repayment period to 6 months to help business in the economic downfall caused by the spread of COVID-19 pandemic.

In a press conference, Finance Minister Ibrahim Ameer has stated that they have extended the repayment of loans taken from Bank of Maldives (BML) for 6 months.

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He further added that they are discussing to ease the repayment conditions of loans taken from Maldives Islamic Bank (MIB).

The government has also introduced an economic recovery package of MVR 2.5 billion.

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