BML Expands ATM Network Across Maldives Islands

In a significant step towards increasing financial accessibility, the Bank of Maldives (BML) has announced plans to install 130 new ATMs in islands currently without one. The initiative aligns with the government’s commitment to provide ATM services across all inhabited islands by the end of next year.

A Memorandum of Understanding (MoU) was signed today between BML and the Ministry of Economic Development at the President’s Office, marking the official launch of the project. This milestone follows the installation of BML’s 150th ATM in Alif Dhaalu Omadhoo.

BML’s CEO, Mohamed Shareef, highlighted that the bank already operates ATMs in 90 islands and is on track to extend services to all remaining islands by the end of 2025. The rollout will take place in two phases, with the first phase set to deliver ATMs to 17 islands by early 2025.

Since launching its first ATM in 2000, BML has become a leader in the country’s banking sector. With over 15 million ATM transactions currently processed annually, the bank aims to bring greater convenience to its customers across the Maldives.

By the time the new ATMs are in place, BML’s total number of ATMs will reach 250, further solidifying its position as the nation’s largest financial institution. In addition, BML’s affiliation with major global payment networks ensures that its customers can use their cards worldwide.

Economic Minister Mohamed Saeed expressed the government's commitment to not only expanding ATM services but also promoting financial inclusion in the country. He emphasized that empowering citizens and boosting income-generating opportunities for communities will be central to this effort. Additionally, the project will include the installation of Dollar ATMs and modern payment solutions, a key pledge of President Ibrahim Solih.

This ambitious initiative is set to transform the financial landscape of the Maldives, ensuring that all citizens can access banking services conveniently, wherever they live.