HSBC Celebrates 20 Years in Maldives

The refurbished HSBC Maldives sky branch declared open by Mr Ali Hashim, Governor of the Maldives Monetary Authority and Mark Surgenor, CEO HSBC Sri Lanka and Maldives

HSBC completed 20 years of operation in the Republic of the Maldives recently. The anniversary was marked with the opening of its newly refurbished sky branch in Male in the presence of Mr Ali Hashim, Governor of the Maldives Monetary Authority and Mark Surgenor, CEO HSBC Sri Lanka and Maldives together with senior management, clients and colleagues.

HSBC Maldives was set up in 2002 as a fully-fledged branch and caters to a growing base of corporate banking customers. The branch was initially located in the MTCC building a few blocks away from its current location at Level 9, Zoneyria Building, H. Zoneyria, Boduthakurufaanu Magu, Malé.

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The refurbished sky branch was constructed during the COVID-19 pandemic with designers and the bank’s Corporate Services team working remotely. 

The branch which spans 4,200sqft is designed with a large collaborative workspace to meet HSBC Group standards and the Future of Work framework, whilst offering greater convenience for clients. 

To mark the occasion, a special token souvenir of the HSBC lions was presented to longstanding clients who have banked with HSBC since the inception of the branch 20 years ago.

Longstanding clients being presented with token souvenirs by Mark Surgenor – CEO HSBC Sri Lanka and Maldives

The bank has played a pivotal role in supporting the Maldives and its community through key finance projects such as post-Tsunami financing of USD30m to rebuild harbors, financing the world’s largest seaplane operation and the world’s largest all glass undersea restaurant. The bank also acted as Lead Manager for the inaugural USD200m Sovereign Sukuk for the Government of the Maldives, and helped arrange financing for clean water and sanitation to 20 islands, as well as provided financial assistance for USD25m to help local communities affected by the COVID-19 pandemic.

Throughout its history, HSBC Maldives has also taken an active role in supporting the local community through Corporate Sustainability projects, and has also been supporting the Maldives Autism Association since 2017. To mark the 20th anniversary, the bank announced its latest partnership with The Asia Foundation to promote Financial Literacy in the Maldives, aligning to HSBC Group’s focus on employability & financial capability through Future Skills.

HSBC Maldives latest partnership with The Asia Foundation to promote Financial Literacy in the Maldives

The proposed project will introduce and promote financial literacy and responsibility among children aged 3-9 years in the Maldives. The Foundation will partner with the Maldives National University (MNU) to facilitate a BookLab to create five original storybooks on financial literacy for children in Dhivehi. The five children’s storybooks on financial literacy will help the targeted group of pre and early readers to learn about savings and financial management. They will also contribute to the overall mission of Let’s Read; that books should be accessible to all children. 

The initiative is well-aligned with the Ministry of Education’s aim to promote Dhivehi among children across the Maldives. Accordingly, suitable authors and illustrators will be selected locally, ensuring that the books are tailored to the Maldivian context.

The books once developed will be uploaded to the online platform. 500 copies each (2500 copies in total) will be printed for distribution amongst school children and the community.

The Foundation has a history of over 20 years with the MNU, mainly extending support through its longstanding Books for Asia program. For this project, the university will support the Foundation in facilitating the orientation session and BookLab events for authors and illustrators. They will also contribute to the project by providing a venue for these events.

HSBC staff will also play an active role in joining the project and working closely with local communities to ensure its success.

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