Bank of Maldives (BML) has established a strategic partnership with Visa, a global leader in providing digital payment solutions, to implement a financial literacy program across the Maldives.
The launch ceremony for this program was held today, where the agreement was signed by Avanti Kolombage, Visa’s Country Manager for the Maldives and Sri Lanka, and Mohamed Shareef, BML’s CEO and Managing Director. The Minister of Education, Ismail Shafeeu, also attended the ceremony.
Under this program, significant efforts will be undertaken to increase financial literacy among youth, small and medium-sized enterprises (SMEs), educational institutions, and various communities.
As part of this agreement, BML and the Ministry of Education will collaborate to conduct Visa’s financial literacy program sessions, ‘Practical Money Skills’ and ‘Practical Business Skills,’ in the Maldives. These sessions will cover topics such as budgeting, saving for the future, managing debt responsibly, and using money wisely. Furthermore, those running SMEs will receive guidance on managing finances, cash flow management, pricing strategies, digital payments, customer acquisition, and business tactics.
Mohamed Shareef, CEO and Managing Director of the Bank, stated, “It is an honor for us to collaborate with Visa and the Ministry of Education on this important initiative. Increasing financial literacy among the youth is a matter of great importance to the Bank. This program highlights the Bank’s commitment to helping future generations make informed financial decisions. Assisting students in building a strong financial foundation is a crucial long-term step towards strengthening the nation’s economy.”
Avanti Kolombage, Visa’s Country Manager for the Maldives and Sri Lanka, said, “Financial literacy is a vital foundation for sustainable economic progress. By introducing Visa’s ‘Practical Money Skills’ and ‘Practical Business Skills’ programs in the Maldives, in partnership with our key partner, Bank of Maldives, we will empower individuals and small businesses, helping to build a digital society capable of taking sustainable and financially sound steps.”A nationwide financial literacy program is being launched in the Maldives.
Bank of Maldives (BML) has established a strategic partnership with Visa, a world leader in providing digital payment solutions, to implement a financial literacy program across the entire Maldives.
The inauguration ceremony for this program was held today. The agreement was signed by Avanti Kolombage, Visa’s Country Manager for the Maldives and Sri Lanka, and Mohamed Shareef, BML’s CEO and Managing Director. The Minister of Education, Ismail Shafeeu, also attended the ceremony.
Under this program, significant efforts will be made to enhance financial literacy among youth, small and medium-sized enterprises (SMEs), educational institutions, and various communities.
As part of this agreement, BML and the Ministry of Education will collaborate to conduct Visa’s financial literacy program sessions, specifically ‘Practical Money Skills’ and ‘Practical Business Skills,’ in the Maldives. These sessions will cover budgeting, saving, managing debt effectively, and responsible spending. Furthermore, those operating SMEs will receive guidance on managing finances, cash flow management, pricing, digital payments, customer acquisition strategies, and business techniques.
Mohamed Shareef, CEO and Managing Director of the Bank, stated, “We are proud to collaborate with Visa and the Ministry of Education on this important initiative. Enhancing financial literacy among the youth is a matter of great importance to the Bank. This program highlights the Bank’s commitment to helping future generations make informed financial decisions. Assisting students in building a strong financial foundation is a crucial long-term step towards strengthening the nation’s economy.”
Avanti Kolombage, Visa’s Country Manager for the Maldives and Sri Lanka, said, “Financial literacy is a vital foundation for sustainable economic progress. By introducing Visa’s ‘Practical Money Skills’ and ‘Practical Business Skills’ programs to the Maldives, in partnership with our key partner, Bank of Maldives, we will empower individuals and small businesses, helping to build a digitally capable society that can take sustainable and financially sound steps.”
This initiative demonstrates our commitment to supporting the Maldives’ long-term plan to bring about a major digital transformation and build a robust economy that extends beyond tourism to other industries.
As the largest financial institution in the Maldives, Bank of Maldives continuously runs various programs to enhance financial literacy among different age groups across the country. Over the past year, the Bank has conducted more than 200 sessions in schools and various communities to promote financial literacy.
For more information about the Visa Financial Literacy Program, visit: https://www.bankofmaldives.com.mv/bml-academy/visa-financial-literacy-program
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