Bank of Maldives has announced plans to improve its loan products to help more people fulfil their hopes and dreams and realise their ambitions. Although it already has made loans of some MVR 8 billion to Maldivian individuals and businesses, the Bank wants to support the local economy even more by making its loans more accessible.
Commenting on the new changes, CEO and Managing Director Andrew Healy stated, “We are open for business and we will announce over the coming weeks a number of changes to existing loans as well as some new loan types. We will also commit to making the loan application process simpler and turnaround times shorter than before”.
Details of the changes to existing loan products as well as some new loan products will be announced on a phased basis over the coming weeks. Home loan financing, unsecured personal loans and small business loans will be in the Bank’s plans.
Bank of Maldives is the largest bank in the country with over 800 staff serving over 250,000 customers through 27 branches, 80 agents, 64 ATMs and 3,500 POS terminals across the country. The Bank has current loans of MVR 8 billion to individuals and businesses in Maldives. It also provides financing and assistance under a number of government loan schemes such as Student Loan scheme and Fisheries and Agriculture Diversification Programme.