In a further move to expand financial support for small and medium enterprises (SMEs) in the Maldives, SME Digital has announced the upcoming launch of two innovative financing schemes, including a dedicated programme for marine vessel purchases.
The financing institute, formerly known as the SME Development Finance Corporation (SDFC), was rebranded in late October and now operates as a subsidiary of the Bank of Maldives (BML), aligning fully with Islamic Sharia principles.
Speaking on PSM News’ ‘Raajje Miadhu’ programme, Aminath Muha, Government Portfolio Incharge at SME Digital, revealed that the vessel financing scheme is in its final development stages and aims to support individuals and businesses looking to buy, build, or upgrade marine vessels—including essential equipment, machinery, and engines.
This initiative reflects the company’s commitment to advancing the fisheries and maritime sectors. Additionally, a new POS-based financing scheme for merchants using the BML’ payment terminals will be introduced, alongside a Sharia-compliant agricultural financing option to complement existing services.
Mariyam Shazna, Digital In-Charge of Marketing and Communications, emphasised that SME Digital is leveraging cutting-edge technology to deliver eco-friendly and inclusive financial solutions tailored to diverse SME needs.
As the Maldives’ first fully Sharia-compliant digital financial institution dedicated to SME growth, SME Digital is integrating its services with the BML mobile app via API connectivity, ensuring seamless, accessible, and modern financial support nationwide.