BML launches nationwide ATM expansion project

The Bank of Maldives (BML) has launched a special project aimed at expanding its ATM service nationwide to enhance financial accessibility across the country. The official launch ceremony was held at the President’s Office, with President Dr. Mohamed Muizzu inaugurating the first ATM installed as part of the new initiative. A key agreement to facilitate the nationwide provision of ATM services was signed between the Ministry of Economic Development and Trade and the Bank of Maldives. The agreement was signed by the Minister of Economic Development and Trade, Mohamed Saeed, on behalf of the government, while BML’s Chief Executive Officer, Mohamed Shareef, signed on behalf of the bank. The first ATM, installed in Omadhoo, Alif Dhaalu Atoll, represents a significant milestone, marking the 150th ATM installed by BML across the country. President Muizzu formally inaugurated the new ATM during the ceremony. In his address, Minister Saeed emphasized the government’s commitment to expanding the BML ATM network to further promote financial inclusion. He highlighted that 103 additional ATMs are planned to be installed as part of this initiative, which will substantially increase the population’s financial participation. BML CEO, Mohamed Shareef, outlined the bank’s objective of providing ATM access to every island in the Maldives by the end of next year. Noting that 150 ATMs are currently available across 90 islands, Shareef added that the bank aims to install additional ATMs to reach over 100 islands by next year. Shareef explained that, as part of the first phase of the expansion, 17 new ATMs will be installed by March 31, 2025. By the end of next year, the total number of ATMs in operation is expected to exceed 250. Furthermore, Shareef reiterated that BML continues to make significant strides in the financial sector, with a primary focus on providing convenient and accessible services to its customers. He also emphasised the bank’s commitment to advancing its digital services and anticipates significant progress in this area over the coming year.