The Edition


Maldives’ main bank holds tourism, real estate session

Fathmath Shaahunaz
14 June 2016, MVT 13:01
Fathmath Shaahunaz
14 June 2016, MVT 13:01

Maldives main bank held a special session last week on tourism and global real estate for corporate customers.

In a press release Monday, Bank of Maldives (BML) stated that the meeting titled “Dhivehi Raajje: Invest kuran varah rangalhu manzileh” (Maldives: a potential destination for investment) which was held in Hotel Jen, capital Male, was the first of many sessions the bank has planned for their corporate customers.

Nihat Ercan, the Executive Vice President of JLL Hotels & Hospitality Group which has acted as exclusive advisor for the sales of six Maldives’ resorts, was a speaker at the session. Nihat Ercan is a leading veteran in tourism, hospitality and real estate, and has conducted hotel transactions of USD 4.5 billion in Europe, Asia and island states of the Indian Ocean.

The bank stated that a presentation illustrating the great potential for investment in the Maldives and the opportunities for Maldivians in global real estate had been presented to leading businessmen and tycoons of the archipelago.

Speaking at the meeting, the recently elected corporate banking director of BML Kuldip Paliwal also shed light on the new services launched by Corporate Banking Division, including relationship managers and veteran teams to serve businesses. He assured BML will provide business-friendly and easy services for their corporate customers.

BML’s CEO and managing director Andrew Healy remarked that the bank is generally perceived as insufficiently capable of targeting large businesses. However, he declared that BML is a step ahead of other banks in serving corporate businesses, highlighting that half of BML’s loan of MVR 8 billion had been issued to corporate businesses, which is double the amount from last year.