The Edition


BML to host event showcasing premium resort solutions

Fathmath Shaahunaz
21 June 2018, MVT 15:32
Kuldip Paliwal, the Director of Business at BML. PHOTO/BML
Fathmath Shaahunaz
21 June 2018, MVT 15:32

Bank of Maldives Plc (BML) has announced plans to host a special event on June 28 at Kurumba Maldives targeting stakeholders in the tourism sector. The event is intended to showcase the bank's premium products for the resort industry including a preview of an entirely new service.

The Maldives' leading bank stated that the senior management of all resorts, including General Managers and CFOs, would be invited to its Resort Solution Event, which is the first event of its kind hosted by a bank in the Maldives.

"Resorts are the key contributors for the tourism industry, and tourism is the backbone of Maldivian economy," said Kuldip Paliwal, the Director of Business at BML.

“Tourism is the backbone of the country’s economy, contributing around 23 percent of GDP and around 70 percent of foreign currency, and the largest employment hub. BML believes tourism is the most important factor in the development of the country’s economy, and we feel to support the industry in every way we can.”

He further added that with this event, BML would demonstrate that it had "a solution for every resort need".

He went on to highlight that BML also provided project financing and working capital requirements for resort businesses, and that the bank's branches, self-service kiosks and agents located across the archipelago made banking services easily accessible to resort workers situated even in remote areas of Maldives.

Touching upon how BML caters to the resort industry work force, Paliwal noted that aside from banking accounts in multiple currencies and salary processing services, the bank also provides various loan requirements such as personal loans and home loan schemes, and international debit cards to resort staff.

BML revealed plans to debut an exclusive preview of an exciting new product meant to target added ease with online international money transfers, during the event.

"It is a unique product, very beneficial to the resort fraternity, where a lot of foreigners are employed."

Furthermore, Paliwal stressed that BML's event would be a great networking opportunity within the tourism sector. He stated that the top tiers of resort businesses and other industry stakeholders can interact with fellow colleagues, share their ideas and views on the sector, and meet their bankers as well during this one-of-a-kind event.

BML is the leading financial institution of the Maldives, providing banking services to all sectors of the economy. It has 34 branches, 95 ATMs, and 5,000 PoS and agents across the archipelago, as well as regular dhoni banking services to remote islands.

In 2017, the bank tripled the number of its business managers, and has announced plans to unveil additional four business centres, to be located in Male, Hulhumale, Kulhudhuffushi and Hithadhoo throughout 2018.