Bank of Maldives (BML) has introduced a new US dollar financing option under its Kiyavaa Loan product to support Maldivians pursuing professional qualifications and making related course fee payments.
According to the bank, the enhanced offering provides unsecured financing for eligible professional qualifications, eliminating the need for collateral. Financing under this option will be provided in US dollars, offering a solution tailored to individuals pursuing internationally recognised certifications, and professional development programmes and would provide an ease in making payments in foreign currency.
Under the enhanced offering, course fees will be remitted directly to the respective professional bodies and institutions via Telegraphic Transfer (TT) upon submission of the required supporting documents, while eligible stipend amounts will be deposited directly to customer.
BML Chief Executive Officer and Managing Director Mohamed Shareef said the enhancement was introduced as part of the bank’s ongoing efforts to improve its products and services to better meet customers’ changing needs.
“This new unsecured USD financing option provides greater flexibility for individuals pursuing higher education and professional qualifications abroad,” he said.
BML said the enhancement reflects its continued commitment to supporting customers in achieving their educational goals through accessible and innovative financing solutions.