Bank of Maldives (BML) has marked the expansion of its services across the country, including an enhanced network of branches and the introduction of US dollar ATMs.
At a special ceremony, President Dr Mohamed Muizzu officially inaugurated new USD ATMs nationwide, along with BML’s expanded branch network. The event was attended by BML Chairperson Ahmed Ali Habeeb, Chief Executive Officer and Managing Director Mohamed Shareef, and other senior officials.
Six new branches were launched in Hanimaadhoo and Kulhudhuffushi in Haa Dhaalu Atoll, Thoddoo in Alif Alif Atoll, Vilufushi in Thaa Atoll, Hithadhoo in Laamu Atoll, and Hulhudhoo in Seenu Atoll.
Among them, the Kulhudhuffushi branch will operate as a dedicated business centre, with services commencing immediately. BML stated that the expansion aims to bring banking services closer to communities across the Maldives.
Speaking at the ceremony, CEO and Managing Director Mohamed Shareef highlighted the importance of maintaining strong relationships with customers in an increasingly digital banking environment. He noted that staff will take a more proactive role in engaging with communities.
“The staff’s role is to visit homes and businesses, and travel to islands where branches are established as well as nearby islands, to inform customers about the bank’s products and services. This also includes enhancing financial literacy and raising awareness about scams. As our services become increasingly digitalised, we remain committed to serving customers close to home,” Shareef said.
During the ceremony, USD ATMs were formally introduced, with plans to install 70 such machines nationwide in addition to 20 Maldivian Rufiyaa ATMs.
According to 2025 data, about USD 1.1 billion was deposited through the ATM network, with a total of 8.4 million transactions recorded. The government aims to establish US dollar ATMs in seven urban centres and cities as part of development policies introduced by President Muizzu.
BML has expanded its ATM network across the Maldives within a nine-month period under a government initiative to ensure nationwide access. The government has stated that ATM services will be provided on all inhabited islands.
By 2023, only 138 ATMs had been installed across 73 islands. As of 1 April, this has increased to 340 ATMs across 187 islands.