BML celebrates completion of nationwide ATM installation project

Bank of Maldives (BML) has celebrated the successful completion of its “BML ATM to the Whole Country” project, which has extended ATM services to every residential island in Maldives.

At a special ceremony held at Barceló Nasandhura, President Dr Mohamed Muizzu presented commemorative plaques to BML employees who led the project. The bank, in turn, presented a plaque to the President in recognition of his initiative to make ATMs accessible nationwide within a short period.

An MoU to install ATMs across all islands was signed in November last year, and under the agreement, 105 ATMs were installed in 20 atolls within nine months.

BML CEO and Managing Director Mohamed Shareef said the project was launched after 25 years of ATM service to address long-standing challenges faced by people in remote islands who had to travel for basic banking needs.

“There were difficulties in accessing basic financial services, and this initiative ensures that citizens can now participate in the financial system wherever they live,” Shareef said.

BML said the project was implemented using a cost-efficient model, with installation costs reduced by one third.

The bank now operates 42 branches, 193 self-service banking centres, and 251 ATMs across 20 atolls.