BML offers merchants up to MVR 2 million in financing within 5 days
Bank of Maldives (BML) has announced key enhancements to its Advance Merchant Settlement facility, reaffirming the Bank’s commitment to helping businesses across the Maldives grow with more accessible financing.
Merchants can now benefit from a simplified application process and reduced documentation, with applications processed within just five working days, down from previous turnaround times. In addition, eligible merchants can access financing of up to MVR 2 million, based on their card settlement history through BML Merchant Services.
BML’s CEO and Managing Director, Mohamed Shareef, said: “This is our continued efforts to strengthen the financial infrastructure available to businesses operating across the Maldives. By streamlining the application process and expanding the scope of available financing, we aim to ensure that our merchant partners are better equipped to manage their operational requirements and pursue sustainable growth.”
To qualify for the facility, merchants must have accepted card payments through BML Merchant Services for at least six months, maintain an average monthly card sales volume of MVR 20,000, and have no overdue obligations with any financial institution. Repayments are conveniently structured to be automatically deducted from daily merchant settlements, offering a hassle-free way to manage financing alongside everyday business operations.
Applications can be submitted easily through the Message Centre in Internet Banking or via the BML Mobile Banking App.
These enhancements reflect BML’s ongoing commitment to empowering local businesses by making financing more accessible, supporting day-to-day operations, and enabling long-term growth for merchants nationwide.
