Bank of Maldives Launches Nationwide ATM Expansion

The Bank of Maldives (BML) has launched a major initiative to expand its ATM network nationwide, aiming to improve financial accessibility across the Maldives. The project was inaugurated at a ceremony at the President’s Office, where President Dr. Mohamed Muizzu officially launched the first ATM under this expansion effort.

A key agreement to support this initiative was signed between the Ministry of Economic Development and Trade and the Bank of Maldives, with Minister of Economic Development Mohamed Saeed representing the government and BML CEO Mohamed Shareef signing for the bank. The project’s first installation, an ATM on Omadhoo in Alif Dhaalu Atoll, also marked a significant milestone as BML’s 150th ATM nationwide.

During his address, Minister Saeed stressed the government’s commitment to enhancing financial inclusion through the expanded BML ATM network, announcing plans to add 103 more ATMs to facilitate greater financial participation for Maldivians.

BML CEO Mohamed Shareef outlined the bank’s goal of extending ATM services to every island by the end of next year. Currently, 150 ATMs serve 90 islands, and the bank expects to reach over 100 islands with additional installations. As part of the project’s first phase, 17 new ATMs are scheduled for installation by March 31, 2025, with a total of over 250 ATMs expected to be operational by the end of next year.

Shareef also highlighted BML’s commitment to advancing digital services, noting that significant progress is expected in expanding digital financial access in the coming year.