Bank of Maldives (BML) has enhanced its Kiyavaa Loan product by introducing unsecured financing in US dollars for Maldivians pursuing professional qualifications and internationally recognised certification programmes. The expanded facility is designed to support individuals seeking to advance their professional knowledge, strengthen specialised skills and obtain qualifications from overseas professional bodies and educational institutions.
The new financing option eliminates the requirement for collateral for eligible professional qualifications, making professional development opportunities more accessible to a broader range of customers. By providing financing directly in US dollars, the facility also addresses the practical challenges faced by individuals who are required to settle course fees and other qualification-related expenses in foreign currency.
Under the enhanced arrangement, approved course fees will be remitted directly to the relevant professional bodies or institutions through Telegraphic Transfer upon the submission and verification of the required supporting documents. Eligible stipend amounts will be credited directly to the customer, providing additional financial support while they undertake their studies or professional development programmes.
BML Chief Executive Officer and Managing Director Mohamed Shareef said the enhancement formed part of the bank’s continuing efforts to improve its products and services in response to the changing requirements of customers.
“As part of our continuous efforts to improve our products and services, we have enhanced Kiyavaa Loan to better meet the evolving needs of our customers. This new unsecured USD financing option provides greater flexibility for individuals pursuing higher education and professional qualifications abroad,” Shareef said.
The introduction of the US dollar financing facility is expected to provide greater convenience and certainty for Maldivians enrolling in internationally recognised professional programmes, particularly where fees must be paid directly to overseas institutions. It also supports the development of a more highly qualified and professionally capable workforce by enabling individuals to invest in specialised education and career advancement.
The enhanced Kiyavaa Loan complements national efforts to strengthen human capital, expand professional expertise and prepare Maldivians for emerging opportunities in both domestic and international employment markets. Greater access to professional qualifications can contribute to improved institutional capacity, productivity and service delivery across key sectors of the Maldivian economy.
As the leading financial institution in the Maldives, BML continues to support customers in achieving their educational and professional aspirations through accessible and responsive financing solutions. The latest enhancement reflects the bank’s commitment to developing financial products that respond to the needs of individuals while contributing positively to the country’s long-term socioeconomic development.
advertisment
advertisment
