Bank of Maldives (BML) today has announced free new bulk payment options for its business customers who use internet banking.
According to the bank, business customers who register for the service will be able to conveniently process large-scale payments to process salaries, allowances, bonuses, dividends, pensions or any other multi-credit transfer requirements.
Payments can be made both in Maldivian Rufiyaa (MVR) and US Dollars as well, the bank confirmed.
In addition to the bulk payments, the new service will also flag any duplication of records and allow users to check payment statuses of individual services.
Commenting on the new service, BML's Corporate Banking Director Ahmed Aseef said that digitalisation is a key pillar in the bank's strategy. "[...] and with diligent focus on making banking better, we remain committed to delivering fast, relevant, and easy experiences for our customers."
"We have been the bank to bring in many firsts to the country and we will continue to work with innovative partners to introduce cutting edge technological solutions to our customer," he added.
Businesses interested in this service are required to be registered to BML's internet banking, and additionally submit a request with supporting documents to register for the bulk payment service.
BML is currently one of the oldest banks in the Maldives, and was established in 1982.
As of now, the Maldivian government holds 50.80 percent of the shares. 33.73 percent of the remaining shares is held by the public, 4.07 percent by MTCC, 7.33 percent by the Government Employee Pension Fund, and 4.07 percent by Rayyithunge [citizens'] Account.