Bank of Maldives has introduced a new digital feature titled “Investments,” allowing customers to invest United States dollars directly with the bank through its Mobile App and Internet Banking platform. The service was officially launched during the bank’s “Chat with CEO” event held at Hotel Jen, where BML presented the feature as part of its continued efforts to expand digital financial solutions and create more value for customers. The launch reflects the bank’s broader commitment to offering accessible, technology-driven services that respond to the evolving needs of individuals and businesses in the Maldives.
With the new feature now integrated into BML’s digital banking channels, customers can access real-time information on active daily investment pools with varying rates of return and complete their transactions entirely online. The service has been designed to provide both convenience and flexibility, enabling customers to participate in investment opportunities without the need for branch visits or lengthy processing procedures. According to the bank, customers who invest in US dollars will receive the equivalent value instantly in Maldivian Rufiyaa to their account, while the profit generated from the investment will be credited to their MVR account on the following day after the transaction cycle is completed.
BML stated that the investment opportunities are structured across different pools offering varying rates of return, with customers able to earn profits of up to 25 percent. This arrangement allows customers to select from a range of options based on the returns available on a given day. The bank’s presentation during the launch included a live demonstration of the feature, showing how users can review available pools, access live information, and complete the full transaction process through the bank’s digital platforms. The introduction of this feature is expected to strengthen customer engagement with digital banking while also creating a practical avenue for managing foreign currency holdings in a productive manner.
Speaking at the launch, BML Chief Executive Officer Mohamed Shareef said the new feature creates an opportunity for customers to invest their US dollars while benefiting from attractive returns. He explained that the initiative also supports the bank’s efforts to secure the foreign currency required for its wider operations. Shareef said that when USD earners invest in these high-yielding pools, the bank is able to utilise those funds for e-commerce retail transactions and other fee-generating operations. After operational costs are deducted, the fees earned from those transactions are then returned to investors as profit. He noted that this process injects additional US dollars into the bank, enabling it to better serve customers’ essential foreign currency needs, including card payments, e-commerce business activities and goods importation, while supporting a sustainable and mutually beneficial financial ecosystem.
BML also highlighted the significant increase in demand for foreign currency in the Maldives in recent years. According to the bank, the volume of US dollars sold each month for international purchases and services through debit and credit cards has increased by 3.7 times over the past five years. The bank said it now sells an average of USD 39.3 million per month for card transactions, while the number of customers using international card services has more than doubled during the same period. These figures underscore the growing importance of innovative financial solutions that can support foreign currency circulation while improving service delivery for customers across the country.
The launch of the “Investments” feature marks an important addition to BML’s suite of digital banking services and reflects the changing landscape of financial services in the Maldives. By combining convenience, immediate local currency access and the opportunity to earn profit from USD holdings, the feature offers customers a new channel for participating in the formal banking system in a way that is both practical and rewarding. For global readers observing financial innovation in island economies, the new service highlights how digital banking solutions in the Maldives are being shaped to meet local market realities while supporting broader economic activity and customer confidence.
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