- BML and SME Digital launched a Youth Entrepreneurship Financing Facility offering up to MVR 150,000 without collateral or equity, for applicants aged 18 to 30.
- President Muizzu inaugurated seven new BML branches, bringing the bank's total to 55 branches across all 20 atolls.
- BML introduced international account opening via Swipe, supporting US dollar, pound sterling and euro accounts, aligning with the government's digital economy goals.
Young Maldivians seeking to establish or expand businesses will be able to access financing of up to MVR 150,000 without collateral or an equity contribution under a new entrepreneurship facility introduced by the Bank of Maldives (BML) and SME Digital Private Limited.
President Dr Mohamed Muizzu launched the Youth Entrepreneurship Financing Facility at the opening of the Youth Entrepreneurs Expo 2026, held at Barceló Nasandhura on Thursday.
The facility is available to eligible applicants aged between 18 and 30, including aspiring entrepreneurs and freelancers. It is intended to improve access to the initial capital required to establish small and medium-sized enterprises and develop commercially viable businesses.
The ceremony also saw the inauguration of seven BML branches in HA. Hoarafushi, Sh. Kanditheemu, R. Alifushi, Lh. Hinnavaru, ADh. Maamigili, GA. Gemanafushi and L. Maavah.
BML now operates 55 branches across all 20 atolls. Seventeen of these branches were established during the past two years, expanding the availability of in-person banking services outside the Greater Malé region.
BML Chairperson Ahmed Ali Habeeb also introduced international account opening through Swipe, a Maldivian digital platform. The service allows customers to open accounts denominated in US dollars, pounds sterling and euros.
The initiatives form part of the government’s broader efforts to expand youth participation in business and diversify the economy. President Muizzu reiterated the administration’s target of increasing the digital economy’s contribution to 15 per cent of the Maldives’ gross domestic product by 2030.
