# Bank of Maldives

Bank of Maldives (BML) is the leading financial institution in Maldives inaugurated on November 11, 1982. They are a full-service bank offering personal, business and corporate financial services to over 300,000 customers. Bank of Maldives has an extensive network of branches, agents, relationship managers and online banking facilities in the Maldives.

## History
### The First Years

The idea of establishing a central bank was first conceived in 1979. Discussions on a joint venture began with the Government of Bangladesh during the same year, to form a national bank with a major share of the Maldivian government. BML was officially inaugurated by President Maumoon Abdul Gayoom on 11 November 1982 at a ceremony held at the Bank's new headquarters.

### Expansion

The first atoll-based branch of the bank was opened in Gan, Addu Atoll in December 1983. This strategic decision made by the bank, offered the opportunity to extend its reach to the largest population centre outside Male’ with a single branch.
With the second branch opened in Naifaru in 1990, the Bank established a northern presence in the atolls. By 2016, the Bank's services expanded to have at least one branch in each atoll.
Today, BML has 38 branches and service centres across all 20 atolls, 85 Self Service Banking Centres, 141 ATMs, over 200 agents and Digital Banking services.

### Digitalization

BML introduced the first ATMs in the Maldives in January 2000. Along with the ATMs, BML launched their own debit card, known as the BML Cash Card that could be used exclusively at the local ATMs.
Following the launch of the first ATMs, the first cards and the first POS terminal, BML then launched their Internet Banking service in 2007.

## Products and Services
### Card Services

In 2004, American Express Cards became the first credit card to be launched by BML, followed by the American Express Debit Card. Today, along with being the exclusive provider of American Express cards in the Maldives, the bank offers cards by international card partners, Visa and Mastercard.

### Internet Banking

Followed by the initial introductory phase for businesses in 2007, internet banking was officially rolled out to all personal customers of Bank of Maldives in 2015.

### Mobile Banking

The BML Mobile Banking app was the first banking app launched by a local bank in the Maldives. BML MobilePay, the Bank's payment app, was launched in 2017 and in the year 2022, the bank merged its banking app and payment app into one. Contactless payment services and wallet-to-wallet transfer services are now available through the banking app.

### Self-service Banking

In 2000, four ATMs were newly installed, marking the beginning of self-service banking in the country. The Bank now has the largest network with 38 branches and service centers across all 20 atolls, 85 Self Service Banking Centers, 141 ATMs, over 200 agents and a full suite of Digital Banking services. In December 2014, the first USD ATMs were introduced to Maldives.

### Business Banking

BML offers a range of banking services tailored for their business customers, which includes internet banking, payroll service, international trade and merchant services. The bank also has a dedicated business centre. For large corporates, BML provides corporate banking services.

## Corporate Social Responsibility

The Bank's support to communities continue through the Community Fund, financial literacy sessions across the nation, support for Persons with Disabilities and partnerships with charitable organizations.

## 40 years of service

To mark its 40th anniversary, BML carried out 12 monthly initiatives to support the community. The first initiative was the BML Scholarship Fund, an annual fund aimed at developing Maldivians in the field of banking and finance. Other initiatives include Startup Grant, Housing Grant, Small Grant, Fehi Project, Sports Scholarship, fund-raising platform Kindly, hackathon and innovation lab, support to Maldives National Museum, National Library, Oncology ward in IGMH and Home for People with Special Needs.

## Awards

BML received “Asia’s Employer Brand” from the World HRD Congress and the Employer Branding Institute for four consecutive years.
The bank also received “Global Business Excellence Award for Outstanding Community Initiative” for its Dhoni Banking in 2013.
In 2016, the Bank received “Most Innovative Banking Team in the Indian Ocean” in the annual awards given by Capital Finance International London.