Self-service banking and ATM services have been launched in Olhuvelifushi, Lhaviyani Atoll, marking the completion of Bank of Maldives (BML) ATM network coverage across all inhabited islands of the atoll.
In islands where ATM services were previously unavailable, residents faced significant difficulties and high costs in accessing ATM services. Many had expressed hope for the establishment of ATM services on their own islands to improve accessibility. The introduction of ATM services on all inhabited islands of the Maldives is a key pledge of President Dr Mohamed Muizzu.
In line with this commitment, a special initiative was launched in partnership with BML to expand ATM services nationwide. Lhaviyani Atoll has now become the latest atoll to achieve full ATM coverage on all inhabited islands. With this milestone, ATM services are now available on all inhabited islands in 18 atolls across the country. The government aims to extend the service to the remaining atolls by the end of this month.
Speaking at the launching ceremony in Olhuvelifushi, BML’s Chief Executive Officer (CEO) and Managing Director Mohamed Shareef highlighted the positive economic impact of ATM services in local communities.
“When the money is deposited, it enters the banking system, even if it’s a small amount. The economy benefits when these funds circulate within the banking system. This brings significant benefits,” he stated.
Shareef noted the establishment of ATM service in Olhuvelifushi, completes its network across Lhaviyani Atoll, and represents another major step in achieving nationwide financial inclusion. He added that BML’s ATM network now spans every inhabited island, from Thuraakunu in Haa Alifu Atoll, the northernmost island in the Maldives, to Male’ City.
BML is the country’s leading financial institution, with an extensive network comprising 42 branches across all 20 atolls, 193 Self Service Banking Centres, 251 ATMs, comprehensive Agent Banking Services, and advanced Digital Banking solutions. The bank aims to assist people, businesses and communities across the Maldives with its services.