Bank of Maldives reaffirms support for tourism sector amid global challenges
Bank of Maldives (BML) on Monday reaffirmed its continued commitment to supporting the country’s tourism industry, following recent statements by the Minister of Tourism and Environment regarding financial assistance extended to the sector.
Minister of Tourism Ibrahim Thoriq on Sunday announced that BML will provide financial facilities to resorts facing operational challenges linked to the situation in the Middle East.
In a statement on Monday, BML said that as the Maldives’ tourism industry navigates challenges arising from the current global situation, the bank has been working closely with key stakeholders across the sector to assess impacts and provide meaningful support. Engagements are ongoing with resort operators, guesthouse owners, and other tourism-related businesses to better understand their operational and financial circumstances.
CEO and Managing Director Mohamed Shareef stated: “Our priority is to stand alongside the tourism sector during this period. By maintaining open dialogue with industry stakeholders, we are able to deliver targeted financial solutions that help sustain operations, proactively manage the ongoing situation, and reinforce confidence across the industry.”
The bank emphasised that its efforts are aligned with national priorities to safeguard economic stability and promote resilience within the tourism sector, which remains a cornerstone of the Maldivian economy.
BML will continue to monitor developments closely and adapt its support measures as needed, ensuring that the industry is well-positioned for recovery and future growth.
