The Bank of Maldives has introduced international account creation of their digital wallet Swipe, along with easy foreign currency transfers from Maldives.

The service was introduced at the opening ceremony of the "Youth Entrepreneurs Expo" held at Barceló Nasandhura. Swipe's new feature was inaugurated by BML Chairperson Ali Habeeb and CEO Mohamed Shareef.

This new addition to Swipe will allow USD, GBP and EUR transactions. BML described this as the beginning of new opportunities for the youth.

During today's ceremony, BML CEO and Managing Director Mohamed Shareef stated they are holding discussions with payment networks such as Alipay, WeChat Pay, Mastercard and Visa in order to make arrangements for a system where payments can be made at the international standard to businesses without the use of a physical card. He also stated the service will be introduced by the end of the year.

Along with that, Shareef also said that as it is President Dr. Mohamed Muizzu's vision to expand the digital economy so that it makes up 15 percent of the GDP by 2030, Swipe will play an important role in achieving that vision.

BML's digital wallet Swipe is currently being used by more than 20,000 people, with Swipe being used at more than 3,000 businesses currently.

Foreign transactions to and from Maldives, and P2P transactions to foreign parties are possible with Swipe as well.