BML CEO highlights AI integration in “Bank Talk”

Bank of Maldives’ CEO and Managing Director Mohamed Shareef stated that the bank has been working tirelessly on an artificial intelligence (AI) tool to enhance and automate BML’s service processes.

During a session of the newly launched BML program “Bank Talk”, Shareef spoke about using AI to fully automate some banking services, along with enhancing other banking processes. He also stated that they are closely monitoring risk management as well.

“We want to ensure that all of our transactions are continuously serviced without any interruption, even if there is maintenance work ongoing. It is an area we need to work harder on to improve,” he said. 

Shareef stated that the aim is to automate all services so that customers don’t have to visit BML outlets physically for the services they need. The trainings required for this are being considered and are already in progress with support from industry professionals. 

He added that the expansion of digital services, along with additional BML branches in the atolls, is a major part of reaching customers more easily and providing adequate financial advice without barriers.

Shareef also highlighted one of the major goals of BML during the interview, indicating that work is in progress to open a BML branch abroad.

This work is currently being carried out at a fast pace, and it will serve as a bridge to connect investors to the Maldivian market. BML will be the institution that fills this gap. Shareef also stated that this will enhance Maldives’ economy and broaden the scope of BML in the future.

“Bank Talk” show is broadcast every Wednesday night via PSM. The program is open for the public to submit questions.